Sarah Palin, still tryin’ to hoist herself up there on that big ol’ national stage, made an utter fool of herself in a speech she gave in Anchorage, Alaska this week. Now definin’ herself as an expert on finance and economics, she said that the Obama administration’s fiscal policies “defy Economics 101.” This, comin’ from a person with a B.A. in journalism who runs an oil-rich state that has fewer residents than most big cities. She went on to say that the government is planning to “bail out debt ridden states” so it can “get in there and control the people.” This, of course, is completely consistent with her assertion that Barack Obama “pals around with terrorists”. Obviously, she is onto to his evil plot to be the first African-American socialist Muslim baby-killing dictator.
Not surprisingly, she eschews historical fact when she asks, “Since when can you get out of huge national debt by creating trillions of dollars of new debt?… It all really is so backwards and skewed as to sound like absolute nonsense when some of this economic policy is explained.” Say what? Palin is forgettin’ that Ronald Reagan, the father of the man she was introducin’ in her speech, was confronted by two recessions as president. In response, Reagan initiated massive government spending, mostly in the military sector, and racked up historical amounts of debt in order to stimulate the economy. The Reagan tax hikes were some of the biggest in history and it took Paul Volcker, who is now part of Obama’s economic team, to get the resulting inflationary spiral under control.
Palin finishes her self-immolation when she concludes “We need to be aware of the creation of a fearful population, and fearful lawmakers, being led to believe that big government is the answer, to bail out the private sector, because then government gets to get in there and control it… And mark my words, this is going to be next, I fear, bail out next debt-ridden states. Then government gets to get in there and control the people.” (Don’t feel bad. I had to read it a couple of times, too). Again, Ronald Reagan’s initial economic approach was to limit government. But this resulted in adding over $2 trillion to the national debt, more than twice the total debt of all previous U.S. Presidents combined. George W. Bush, having never picked up a U.S. History or Economics textbook, broke Reagan’s record national debt by a significant margin. So much for Palin’s doctoral thesis on fiscal conservatism.
Sarah Palin’s closing remarks in this speechifyin’, once again, defy interpretation– or English translation: “Some in Washington would approach our economic woes in ways that absolutely defy Economics 101, and they fly in the face of principles, providing opportunity for industrious Americans to succeed or to fail on their own accord… Those principles it makes you wonder what the heck some in Washington are trying to accomplish here.” (OK. Take your time and read it again. I understand. It’s like interpreting monkey talk).
So, why are we still listening to and talking about Sarah Palin? First of all, because she is entertainin’ as hell. But, more importantly, we need to understand that a lot of our fellow citizens stand up and cheer when this person talks.