Except he doesn't believe in that, really.
The way things work with Paul is he plays the DC game, but votes "no" on spending he knows will pass. Back in '08 there was thread here on FR about all the earmarks he had requested in the past year, and they were for stuff no one calling themselves a conservative (much less "Dr. No") should be putting in a bill. Millions to advertise texas shrimp, a theater renovation...stuff that no government body really has any business doing, much less the federa; government.
So Paul puts these earmarks in, then votes against a budget containing them that he knows will pass overwhelmingly. It's all a game, and why should we be surprised if he palys the game well after decades inside the Beltway?
Earmark this: Obama, McCain both vote “Yes” on Senate bailout bill