Sarah Palin Forgets History, And Her Own Words
Sarah Palin’s comments last night about the debt ceiling debate are, in a word, curious:
“Scaring the American people is exactly what President Obama is doing. In that bizarre speech that he gave last night, it reminded me of when he insisted that TARP had to be passed — it was life-or-death, at that time, also.”
There’s just two problems here. Barack Obama wasn’t President when TARP was passed, George W. Bush was.
And, Palin supported TARP:
In the midst of the 2008 financial crisis, Palin held that now infamous interview with CBS News‘ Katie Couric, and she endorsed the bailout. The exchange was odd because Palin provided a confusing reply, inexplicably tying the bank bailout to health care reform, but it was clear she favored the bailout (as did Sen. John McCain):
COURIC: Why isn’t it better, Governor Palin, to spend $700 billion helping middle-class families struggling with health care, housing, gas and groceries? Allow them to spend more and put more money into the economy? Instead of helping these big financial institutions that played a role in creating this mess?
PALIN: That’s why I say, I, like every American I’m speaking with, were ill about this position that we have been put in, where it is the taxpayers looking to bailout. But ultimately, what the bailout does is help those who are concerned about the health care reform that is needed to help shore up the economy—helping the—Oh, it’s got to be about job creation too. Shoring up our economy and putting it back on the right track… And trade we’ve got to see trade as opportunity, not as a competitive scary thing. But 1 in 5 jobs being created in the trade sector today. We’ve got to look at that as more opportunity. All those things under the umbrella of job creation. This bailout is a part of that.
Weeks later, during an October 21 CNN interview, Palin gave a straighter answer, indicating her full support for the bailout:
Now, as for the economic bailout provisions and the measures that have already been taken, it is a time of crisis and government did have to step in playing an appropriate role to shore up the housing market to make sure that we’re thawing out some of the potentially frozen credit lines and credit markets, government did have to step in there.
In her 2009 book, Going Rogue, Palin noted that the bailout had been absolutely necessary, and she even chastised the House Republicans (like Royce) who had voted against it:
The House of Representatives rejected a Bush-backed economic bailout plan in a vote in which two-thirds of Republicans voted no. The impression this made on the electorate was not helpful to our cause. Millions of Americans were poised to go bankrupt or lose their savings, and the perception was that Republicans had failed to respond.
Palin isn’t alone in holding this position on the debt ceiling, she speaks for others including some who assert, absurdly, that the GOP has already compromised with the President by agreeing to raise the debt ceiling. Well, they need to understand that acting to protect the fiscal stability of the United States is not a compromise.