Palin Says Another Great Depression Is Possible

NEW YORK — Republican vice presidential nominee Sarah Palin says the United States could be headed for another Great Depression if Congress doesn't act on the financial crisis.

Palin's comments came in an interview Wednesday with "CBS Evening News" anchor Katie Couric.

Asked whether there's a risk of another Great Depression if Congress doesn't approve a $700 billion bailout package, Palin said: "Unfortunately, that is the road that America may find itself on."

Palin said the answer to the financial crisis doesn't necessarily have to be the bailout plan that the Bush administration has proposed, but should be some form of bipartisan action to reform Wall Street.

Comments

[openhand]

Why do we need a constitution when we have Sarah and the 10 Commandments?

[Bettysdad]

If only Katie had asked: How would you reform credit default swaps??

[emily00011]

Such a paragon of insight.

I think the average hockey mom would own Palin in an economic debate... or any debate.

[NickSoCal]

Her voice makes me think her kids are adopted. It is a REAL Woody Shrinker.

But everytime she DOES talk I want to say STF_U the adults are talking , go to your room!

[pie8ter]

I couldn't agree with you more. This woman's voice is annoying and childlike. Her campaign speeches sound like she is repeating the memorized lines.

Shame on republicans for putting a nincompoop for a VP slot.

[uberdeutsch]

Wow, she was so specific in her analysis. Do action, get things done, reform Wall St. Fascinating stuff. Good thing that those glasses make her at least look smart.

[timberdoodle]

Wow!!!!!! Sara is a socialist in drag. What do the right wing extremists think of this plan.

[kev1000]

Thank you, Sarah. Where would we be without stalwart, insightful people like her stating the blatantly obvious?

[lbarnett]

Yeah, I'd want my financial advice to come from this cipher!

[Kassandra]

WTF does SHE know? I think we'll have a Great Depression whether or not we bailout these thieves.

I mean, dig it; they've ruined our manufacturing sector, sold our resources and assets to foreign governments, sent our jobs elsewhere, brought in tech workers and low pay workers; insulted our scientists and they've left except for the ones who agree with them; dumbed everyone down to the point they want their president to be a guy "they could be comfortable drinking a beer with" and believe that "politics" doesn't effect THEM! Too few believe we HAVE to get off oil or we'll kill the planet we live on....on...on...

Now, everyone's starting to wake since their wallets are being picked slyly our of their pockets in plain sight ( even tho this has been happening all during Bush's potentate...via Iraq). And they won't even admit we're in a recession fergawdsake!

To save our country, we would have to stop on a dime at 75 miles per hour and take a hairpin turn to another direction. I don't think we can do it. And I don't think we have the stuff to do it with after these thieves have been stealing everything in sight.

[Omidal]

After the election she may get a call from Playboy and GGW: girl gone wild.
$1 million dollar offer.
Then a talk show on fox news.
She is going places if hollywood wants her.

dril, baby, drill!

If she does not make it in politcs I do not need anyone voting for her or even giving a cabinet post.

[seattlefemdem]

Yeah those might her only options now that all of Alaska has learned for her evil ways of governing

[JinChicago]

i would actually buy a sarah palin porn called DRILL BABY DRILL

[seattlefemdem]

I could care less about Palin's FOREIGN Policy experience. Let's ask her about her DOMESTIC Policy qualifications. Did she take any econ classes at any of the 6 colleges she attended before she got her 1 BA in commucations from the powerhouse University of Idaho?

I think her comment about us heading toward another "Great Depression" is totally irresponsible and uneducated. We have had smarted people than her in power for a long time to ensure that never happens again.

[DIdaho]

I'm no Palin fan but no, we haven't. Preventing the next depression was not about having smarter people in power, it was about having regulations and safeguards to prevent its repeat. Those regulations have been repealed and the safeguards dismantled.

In addition, things like Credit Default Swaps, which can multiply losses by many times the actual bond losses, did not exist in 1930.

[chendri887]

Credit default swamps. God, what a joke. How can that even be legal? I don't get how bright, rational people come up with this immoral way of making money. Bipolar disorder and ADD probably common disorders that motivate many on Wall Street and in positions executive power to take such insane risks. Please, seek treatment. You are bringing down the American middle class. It's not just about you and your disorder anymore!

[auntiecairo]

I wonder what economic course she took at the 1/2 dozen colleges she attended made her an expert
on a plan so complicated the best economic and legal minds are having a difficult time putting their
heads around? THe Great Depression can't happen because of other built in safeguards; the current meltdown is due in large part because of deregulation supported by McCain and pushed through by the Kind of Whiners Phil Gramm. McCain and Palin are anything but calm and rational in a crisis. This meltdown has been festering for 2 years - suddenly now sometihng has to be done or else? Isn't it a bit convenien that 3 months before leaving office Bush wants a bailout that no doubt benefits his cronies? If he and Paulson are serious Paulson and Bernanke should step aside and let Congress hire a non-partisan, disinterested person to come in and run the Treasury - not the former President of Goldman Sachs, a potential beneficiary -- it's all ridiculous. .

[BabsfromKansas]

Well said!

[JinChicago]

HUFF POST PICK!

[kimbari]

Well, DUH.

[jackt51]

You beat me to it! Bet she still had to go to her Rovian advisors for input before she made the statement! Nothing new here!

Thankfully, she'll be Alaska's problem come November 5th!!!

Obama/Biden 08

[iPolitics]

Only if John McHoover/Sara "Clueless" Palin win

[RJII]

katie couric is just bad at this.