Sen. Ted Cruz, R-Texas, took the CPAC stage early Thursday morning to fire up grassroots activists for conservative principles.

"Who are the two Republicans in modern times who have most energized young people?" Cruz asked the audience.

"Ronald Reagan and Ron Paul," he answered.

"So the key is being named Ronald," Cruz joked, pointing out that both were in their 70s and weren't "young, rugged James Dean" types.

Cruz added that both political figures stood strong on principles.

"They stood for principle, they painted a bold inspiring vision for America for how all of us can be better, and young people came out by the millions and said, 'That's the vision I want to be behind!' "

To illustrate his commitment to principles, Cruz proposed a list of 10 different reforms, including a nod to Paul's efforts to audit the Federal Reserve.

On tax reform, Cruz called for the abolishment of the Internal Revenue Service and the introduction of a flat tax, which drew wild applause from the crowd of activists.

Cruz's other proposals included the expansion of energy production, the passage of a balanced budget amendment, term limits and school choice.

He also vowed a commitment to roll back some of President Obama's policies, including the repeal of Dodd-Frank and "every single word of Obamacare."

"Obamacare, it is utterly lawless, it is inconsistent with the Constitution and it ought to trouble everyone," he said.

The key, Cruz insisted was to eliminate the corporate welfare and crony capitalism, calling for a lifetime ban on lobbying for members of Congress.

After offering his cornucopia of conservative ideas, Cruz reminded conservative activists that a bold agenda was the only way to win.

"You win elections by standing for principle and inspiring people that there is a better tomorrow," he said.