Rand Paul: 'I'm putting myself forward as a candidate for president'

Watch "The Situation Room with Wolf Blitzer" Wednesday at 5 p.m. ET for an interview with Rand Paul.

Since riding the tea party wave into the Senate in 2010, Paul has carefully built a brand of mainstream libertarianism -- dogged advocacy of civil liberties combined with an anti-interventionist foreign policy and general support for family values -- that he bets will create a coalition of younger voters and traditional Republicans to usher him into the White House.

The test of that theory began Tuesday when the Kentucky senator made official what has been clear for years: He's running for president.

"Today I announce with God's help, with the help of liberty lovers everywhere, that I'm putting myself forward as a candidate for president of the United States of America," Paul said at a rally in Louisville.

Paul immediately hit the campaign trail for a four-day swing through New Hampshire, South Carolina, Iowa and Nevada -- the states that traditionally vote first in the primaries and caucuses.

A poster from the Rand Paul for President campaign.

READ: Can Rand Paul escape his father's shadow?

In his speech, he called for reforming Washington by pushing for term limits and a constitutional amendment to balance the budget. He argued that both parties are to blame for the rising debt, saying it doubled under a Republican administration and tripled under Obama.

"Government should be restrained and freedom should be maximized," he said.

The line-up of speakers who introduced Paul sought to paint the senator as a nontraditional candidate with diverse appeal, and by the time he got on stage, he was the first white man to address the crowd.

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Rand Paul: 'I'm putting myself forward as a candidate for president'