Palin’s take on S&P downgrade

August 9, 2011

“Many commonsense Americans like myself  saw this day coming,” Sarah Palin says of the Standard & Poor’s downgrade of the U.S. credit rating and the fallout in the markets.

In what reads like an economic policy statement, the former Alaska governor and possible presidential candidate says she is “surprised that so many people seem surprised by S&P’s decision.”

“Weren’t people paying attention over the last year or so when we were getting warning after warning from various credit rating agencies that this was coming?” she said in a lengthy posting on her Facebook page.

Palin, who is still weighing whether to join the crowded race for the 2012 Republican presidential nomination, says she even sounded some of those warnings herself.

“Back in December 2010, I wrote: ‘If the European debt crisis teaches us anything, it’s that tomorrow always comes. Sooner or later, the markets will expect us to settle the bill for the enormous Obama-Pelosi-Reid spending binge.’ ”

Palin, the Republican vice presidential candidate in the 2008 election, lays out her solutions for turning around the U.S. economy: stop deficit spending, balance the budget, repeal President Barack Obama’s healthcare reforms and overhaul entitlement programs.

She also takes a rhetorical whack at the economic policies of Obama — and his Ivy League education.

“Nothing is ever ‘too big to fail.’ And there’s no such thing as a free lunch,” Palin wrote. “Didn’t we all learn that in our micro and macro econ classes? I did at the University of Idaho. How could Obama skip through Columbia and Harvard without learning that?”

Photo Credit: REUTERS/Brian Frank (Palin in  Pella, Iowa at June premiere of  documentary  “The Undefeated”)

 

19 comments

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Sarah Palin commenting on economics is like a cartoon character speaking about judicial matters. Her lack of intelligence, eternal grabbing for the spotlight and lazy way of life are a scourge on America. Needless to say, she will not run for President because nobody cares if she does or if she does not. She is old news and ‘good on that.’ Besides, if she won, saints preserve us, she would not finish the term. Her Alaska resignation proves that.

Posted by kfree77 | Report as abusive

“Fromthecenter”, your name implies you claim to be a centrist. Your sarcasm and insults show you are arrogantly proud to be “progresive”. Mrs. Palin has done nothing to you socialists. She ran for public office at the invitation of a poor spirited man who did not stand up for her. She has been grossly slandered and persecuted by friends of the whitehouse ‘resident. He lacks the common decency to make them stop…and now you hide behind a false name and make fun of her WITHOUT PROVING your point.

Posted by 41to38 | Report as abusive

Common sense always is easy to ridicule. Nevertheless, it is common sense. Ms. Palin is calling a spade a spade, just as others on both sides of the aisle have. Our country’s situation is non-partisan.

Messengers can always be confused with their messages. Nevertheless, they are messengers only. The enormous Obama-Pelosi-Reid spending plan is not executable, therefore it devolves to being a binge. Makes good sense. I might have chosen other wording to explain why I believe this is a binge, but it is a binge nonetheless. Repealing the healthcare bill can save us at least $1.5T over the next 10 years. Couple that with the almost $1B identified in the debt ceiling discussions and you get approximately $2.5T of $4T S&P recommended. I am pretty confident that waste and irresponsibility in government spending can be identified without even touching military budgets or taxing “the rich” that can get us pretty close to $4T, though leadership will be required to eliminate wasting time via childish antics by elected officials.

A plan to fix a problem is better than no plan at all. It may not be THE plan that fixes, but it can be a starting point to move forward. Criticism of a reasonably formed plan takes far less effort than constructing the plan itself.

I could go on …

Posted by tomwinans | Report as abusive

@tomwinans, I guess you are a better budget authority then the CBO, after all they said the PPACA will SAVE $100 billion off the debt in the next 10 years. So yes repealing it will also save $1.5 Trillion over the next 10 years. I am assuming you went to same Econ classes as Ms. Palin?

Also you mention ‘The enormous Obama-Pelosi-Reid spending plan’, New policies implemented by either of these 3 are not the drivers of our debt right now. If you look at the facts the 3 main contributors to our current debt are;

1. The Wars
2. The Bush Tax cuts
3. Unfunded Medicare Part D

None of these 3 things where policy ideas of Reid, Pelosi or Obama.

But I guess Ms. Palin was also the best Governor of Alaska ever, even though she QUIT half way through, probably because it was too much work. After all facts do not matter to Ms. Palin and her supporters, it is just ‘common sense’, right?

Posted by USAPragmatist | Report as abusive

THIS is real leadership. i encourage everyone to not only read this fb post but her other ones too. she lays out clear solutions for america!! we need to REDUCE debt and spending, that’s the main tea party message. not obama’s message of more taxes and spending.

for more palin info, look here: http://us4palin.com/accomplishments/

Posted by PrincessSachiko | Report as abusive

Sarah Palin is an idiot, absolutely unfit for public service. If she couldn’t handle the heat governing a state with under 600,000 residents (fewer people than a city like Milwaukee), she obviously has no business giving advice to the POTUS on how to run the show. Give me a Republican candidate with some brains and the guts to dispense with all the ideological, faux-Christian bull $hit, present a fiscally responsible way out of this mess the neo-cons got us into (instead of simply being contrary) AND stand up for personal liberties (that means ending the costly and arbitrary marijuana prohibition and institutional bigotry toward gays) and I’d happily vote for them.

Posted by kane4 | Report as abusive

@USAPragmatist, I make no claims about being an authority … but I have stayed at a Holiday Inn. Thanks for adding your list to the low hanging fruit. I also made no claim to the list being exclusive, though I made the reference because the article did and it makes sense. Do you disagree?

Are you saying that one must be a supported of Ms. Palin just because one agrees with points she makes?

Whether or not she is a fool or an idiot is for you to decide. But even fools and idiots can speak truth. I should know …

Posted by tomwinans | Report as abusive

It never ceases to amaze me that a lot of your comments are directed to criricise MS PALIN. The name calling and abuse heaped upon her are in my opinion the ravings of the lunatic fringe. MS PALIN was the gov. of Alaska.
agreed and she did leave to seek a higher office in which to serve the people.
Yet we criticise her for trying to better our lives. FOR SHAME

Posted by optionsal | Report as abusive

Here’s a statistical pattern I’ve noticed about sunshine:
Sarah Palin is the ‘rogue’ one in polls as far as truth goes.
-
The more truth known about Obama, the less he is liked.
The more truth known about Sarah, the more she is liked.
-
Sunshine is on Sarah’s side, and I predict a lot of sunny days ahead.

Posted by Bill589 | Report as abusive

Palin do not finish her term as governor. She has zero experience in economic theory. This reality star forgot to mention that Reagan raised the debt limit 18 times! Clinton
6 times and W 7 times. So the story goes next time the Democrats will blame the Republicans. And round and round the American public goes listening to the same old blarney.
America deserves it politics. I love listening to both sides tell me how right and smart they are.

Posted by eburke | Report as abusive

Ok, ok. I clicked on the link for the comedy relief of it all. I thought that surely her absurdity would give me a chuckle so I wouldn’t have to be embarrassed by my off-the-wall opinions… It worked. She is even less knowledgeable than me. Now that is absurd!

Posted by SeaWa | Report as abusive

you know what’s funny is that the new meme on the internet is whether or not Obama was actually ready to be President when he was elected. It appears as though we knew more and still know more about Sarah Palin than we have ever known about Obama. You people that want to call her an idiot have every right too. But here’s the deal, she ain’t the President. Mr. Obama is the President and he is the idiot in the room. He’s the one who took a full year to pass a bill he and his entire party (who controlled both Houses) wanted. He’s the one who’s budget was voted down 97 to nothing in the Senate. He’s the one who has yet to actually come up with a plan that is one paper(you know a plan that everyone can read) He’s the one who plays golf while Rome burns. He’s the one who sits in the big chair yet has found a way to blame everyone but himself. He’s the President, so who cares what Palin says. How about finding out more about the guy you voted for. Or maybe you’re to afraid that you’re hope and change was rhetorical and not an actual policy.

Posted by zebo | Report as abusive

Only in America – where a fool can have credibility.

Posted by uc8tcme | Report as abusive

I am a centrist, the problem is a portion of the republican/teabagging community have went so far to the extreme right that there can be no centrist opinion anymore. And as far as sister sarah goes, in never ceases to amaze me that people would even consider this carnival barking, reality tv personna of being someone who the country should put ANY legitimacy in as a political figure. She has done nothing but strike the iron when it was hot to make millions of dollars. The gullible people who swallow her aw shucks, i’m a hockey mom nonsense should really not be allowed to vote.

Posted by fromthecenter | Report as abusive

Sarah Palin is being completely disingenuous. Her warning in Dec 2010 was because Moody’s warned of a possible downgrade. And what spurred Moody’s to make this warning? Renewing the Bush Tax Cuts! From Reuters itself reported on 12-13-10: “Last week, Moody’s and Fitch Ratings both expressed concerns about the U.S.’s rating longer term, with Moody’s fearing the impact if the tax cuts become permanent.”

Posted by jessie1234 | Report as abusive

Jessie1234 – thank you for reminding me. The S&P downgrade is also largely due to the Bush tax cuts.

Posted by sooku | Report as abusive

Poor Sarah she is ridicule alot and perceived as an idiot. If you look at the last 2 college graduate presidents they done such a great job. President ford was ridiculed a lot also. President teddy roosevelt was considered a major nut ball. As far as qualifications for president is anybody ever really qualified when they take position?

Posted by EN3 | Report as abusive

Name calling aside – let me ask one question to all those ridculing the Governor’s intelligence and reliance on common sense – Where have all these highly intelligent people in State and Federal Government led us?

Forbear one more question – Where is Alaska’s budget right now? Go Look. I’ll wait.

Posted by NJConservatives | Report as abusive

Well, NJConservative, I hope you checked back. Socialist Alaska has no income or sales tax. Instead, it imposes huge taxes on the oil companies that lease its oil fields. The taxes finance the Alaska government’s activities and enable it to issue a four-figure annual welfare check to every man, woman, and child in the state, whether they work or not. One of the reasons Palin was such a popular governor is that she added an extra $1,200.00 to 2008’s check, bringing the per-person total to $3,269.00.
A few weeks before she was nominated for Vice-President, Sarah Palin told a visiting journalist, “We’re set up, unlike other states in the union, where it’s COLLECTIVELY Alaskans own the resources. So we SHARE IN THE WEALTH when the development of these resources occurs.”
Perhaps there is some meaningful distinction between spreading the wealth and sharing it, “collectively,” no less, but finding it would require the analytic skills of Karl Marx. Alaska is the most socialist state in the union. And that’s precisely why their budget is in such good shape.

Posted by GetpIaning | Report as abusive