Palin: US could face another Great Depression

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Republican vice presidential candidate Sarah Palin said Wednesday that the United States could be headed for another Great Depression if Congress doesn't act on the financial crisis.

Palin made the comment in an interview with "CBS Evening News" anchor Katie Couric while visiting New York to meet foreign leaders for the first time in her political career. As Palin sought to establish her credentials in world affairs, first lady Laura Bush said Palin lacked sufficient foreign policy experience but was "a quick study."

Recent surveys have shown that Palin's popularity, while still strong, has begun to fade.

Earlier this month, an Associated Press-Yahoo News poll showed more people viewing Palin favorably than unfavorably, 47 percent to 28 percent. But an ABC News-Washington Post poll released Wednesday showed that in a two-week period, the number seeing Palin positively dropped 6 percentage points while 10 points more see her unfavorably. On Monday, a CNN-Opinion Research Corp. poll said her favorable rating dropped 4 points and her unfavorable rating rose 8 points over two weeks.

Palin has been in New York this week for a series of meetings with foreign leaders, part of an effort by Republican John McCain's presidential campaign to counter criticism that the former small-town mayor lacks the experience to be vice president, let alone president in an emergency.

The CBS interview was just her third major interview in nearly four weeks on the GOP presidential ticket. 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 the Bush administration has proposed, but that it should be some form of bipartisan action to reform Wall Street.

"I'm ill about the position that America is in and that we have to look at a $700 billion bailout. At the same time we know that inaction is not an option and as Sen. McCain has said unless this nearly trillion-dollar bailout is what it may end up to be, unless there are amendments in Paulson's proposal, really I don't believe that Americans are going to support this and we will not support this," Palin said in the interview.

Couric pressed Palin on examples of how McCain, a 26-year congressional veteran, had led the charge for more oversight.

The Alaska governor cited McCain's warnings about Fannie Mae and Freddie Mac two years ago as well as his image as a maverick. Questioned again for examples, and reminded that McCain had been chairman of the Commerce Committee, Palin said, "I'll try to find you some and I'll bring them to you."

McCain has insisted Palin is ready to take over as president, but he made no mention of including her in the meetings he wants in Washington to deal with the financial crisis.

Laura Bush told CNN that she thought Palin had "a lot of really good common sense" and commended her executive experience. Asked if she thought Palin had sufficient foreign policy experience, the first lady said: "Of course she doesn't have that. You know, that's not been her role, but I think she is a very quick study, and fortunately John McCain does have that sort of experience."

Palin covered a range of issues Wednesday in her conversations with foreign leaders, according to her foreign policy adviser, Stephen Biegun.

She and Iraqi President Jalal Talabani discussed a new election law approved by parliament this week that paves the way for the first provincial elections in four years. Biegun also said Talabani was greatly interested in the Alaska Permanent Fund, which gives residents a share of the state's oil wealth.

"It's something the Iraqis were well-familiar with, and it's apparently something that they're looking at as a model to pursue the development of their oil fields," Biegun said.

On her way to that meeting, Palin got a glimpse of ground zero for the Sept. 11 terror attacks in New York as her motorcade made its way downtown. She did not respond to a reporter's question about what she thought when she passed by the 16-acre site.

Her motorcade was stuck in traffic for a few minutes along its western border, where passers-by can see cranes jutting into the sky from the base of the deep pit that once was the World Trade Center basement. Crews are building a memorial to the attacks and a 1,776-foot-tall building to replace the destroyed twin towers.

Palin met with Talabani and then with Pakistani President Asif Ali Zardari before an evening session with Indian Prime Minister Manmohan Singh. Earlier Wednesday, Palin and McCain met jointly with Georgian President Mikhail Saakashvili and Ukrainian President Viktor Yuschenko.

The McCain campaign set up the sessions with the leaders, who were among those in town for the U.N. General Assembly.

Meanwhile, Palin's infant son and two youngest daughters headed home to Alaska after a day of quintessential New York sightseeing with their father, Todd Palin. He took them to the tip of Manhattan to see the Statue of Liberty. The family also visited ground zero, and ate hot dogs and soft pretzels in Central Park.

They stopped at the FAO Schwarz toy store, where daughter Piper tried on princess dresses, the campaign said.

At the start of her meeting with Talabani, the governor was overheard saying: "There's plenty to do here, isn't there? Plenty to see."

___

On the Net:

McCain campaign: http://www.johnmccain.com/

Obama campaign: http://www.barackobama.com/index.php

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{"commentId":3092292,"authorDomain":"cricketticket"}

Lets see- a few billionaires doubled their income over the past few years...and does the economic crunch ruin the institutions it originate from- or everyones lives? Seems to me like alot of drama.
Maybe the government shouldn't spend trillions in Iraq- what is sum? the federal government spends 15 billion a month in Iraq????
The oil companies earned 155 billion in 2007?
Come on- Sarah Palin instead of being mean, and telling you to choke and go back to Alaska- I'll say-"great comment" it looks hot in the headlines with your photo.
"We are headed to Great Depression"- "Country First"- Did she(Sarah -Palin/Clinton) learn about America from T.V?- I keep reading Sarah Palin/Clinton hasn't travelled much until now/recently.

{"commentId":3092292,"threadId":"366515","contentId":"1906084","authorDomain":"cricketticket"}
  • 1 vote
Reply#26 - Wed Sep 24, 2008 6:17 PM EDT
{"commentId":3092417,"authorDomain":"fitzright"}
They stopped at the toy store FAO Schwarz, where daughter Piper tried on princess dresses, the campaign said.

I guess America will be a monarchy after all.

{"commentId":3092417,"threadId":"366515","contentId":"1906084","authorDomain":"fitzright"}
  • 3 votes
Reply#27 - Wed Sep 24, 2008 6:19 PM EDT
{"commentId":3092471,"authorDomain":"cricketticket"}

Lets see- a few billionaires doubled their income over the past few years...and so does the economic crunch ruin the institutions it originates from?- or everyones lives? Seems to me like alot of drama.
Maybe the government shouldn't spend trillions in Iraq- what is the sum? The federal government spends 15 billion a month in Iraq????
The oil companies earned 155 billion in 2007?
Come on- Sarah Palin/Clinton instead of being mean, and telling you to choke and go back to Alaska- I'll say-"great comment" it looks hot in the headlines with your photo.
"We are headed to Great Depression"- "Country First"- Did she(Sarah -Palin/Clinton) learn about America from T.V?- I keep reading Sarah Palin/Clinton hasn't travelled much until now/recently.

{"commentId":3092471,"threadId":"366515","contentId":"1906084","authorDomain":"cricketticket"}
  • 1 vote
Reply#28 - Wed Sep 24, 2008 6:19 PM EDT
{"commentId":3093013,"authorDomain":"cricketticket"}

Whats the average income to the core base of the Republican voters? And do they have individual rights?
Are all republicans the same? Or individuals?
Depressing- they have so much...so, so much- to give.

{"commentId":3093013,"threadId":"366515","contentId":"1906084","authorDomain":"cricketticket"}
    Reply#29 - Wed Sep 24, 2008 6:27 PM EDT
    {"commentId":3093112,"authorDomain":"sherwood-1"}

    To paraphrase an earlier leader, Let them eat moose.

    {"commentId":3093112,"threadId":"366515","contentId":"1906084","authorDomain":"sherwood-1"}
    • 1 vote
    Reply#30 - Wed Sep 24, 2008 6:28 PM EDT
    {"commentId":3093913,"authorDomain":"peej0630"}

    Is Sarah Palin a super hero? She could be called CAPTAIN OBVIOUS! Way to make a comment with absolutely no evidence of insight. She is an idiot. Not stupid, just horribly terribly ignorant. Her comments about NY even sound naive. Noone is that much of a hayseed. she is really being kept quiet. Too bad her debate will run as scheduled with Biden. What do they hope to accomplish with these rushed meetings with low-rent foreign leaders? BTW: Why is Laura B quoted in this? This is the first comment I've ever heard out of her that wasn't about elementary education. Is she qualified to comment on Palin because she's rumored to have a vagina? When will that party learn we women don't vote based on gender!

    {"commentId":3093913,"threadId":"366515","contentId":"1906084","authorDomain":"peej0630"}
      Reply#31 - Wed Sep 24, 2008 6:40 PM EDT
      {"commentId":3094518,"authorDomain":"ryan-arizona"}

      "Palin has been in New York this week for a series of meetings with foreign leaders, part of an effort by Republican John McCain's presidential campaign to counter criticism that the former small-town mayor lacks the experience to be vice president, let alone president in an emergency."

      --So if any one of us meets with World Leaders through a series of 15-minute conversations, we are going to have bolstered our resumes? If that's the case, elect Bono of U2 as Veep (too bad he's Irish right?)...

      {"commentId":3094518,"threadId":"366515","contentId":"1906084","authorDomain":"ryan-arizona"}
      • 3 votes
      Reply#32 - Wed Sep 24, 2008 6:51 PM EDT
      {"commentId":3094831,"authorDomain":"steppin188"}

      September 24, 2008Login or register to post comments email print
      America's wealthiest should pay for the billion-dollar bailouts
      By Senator Bernie Sanders

      The current financial crisis facing our country has been caused by the extreme right-wing economic policies pursued by the Bush administration. These policies, which include huge tax breaks for the rich, unfettered free trade and the wholesale deregulation of commerce, have resulted in a massive redistribution of wealth from the middle class to the very wealthy.

      The middle class has really been under assault. Since President George W. Bush has been in office, nearly six million Americans have slipped into poverty, median family income for working Americans has declined by more than $2,000, more than seven million Americans have lost their health insurance, more than four million have lost their pensions, foreclosures are at an all-time high, total consumer debt has more than doubled, and we have a national debt of more than $9.7 trillion dollars.

      While the middle class collapses, the richest people in this country have made out like bandits and have not had it so good since the 1920s. The top 0.1 percent now earn more money than the bottom 50 percent of Americans, and the top one percent own more wealth than the bottom 90 percent.

      The wealthiest 400 people in our country saw their wealth increase by $670 billion while Bush has been president. In the midst of all of this, Bush lowered taxes on the very rich so that they are paying lower income tax rates than teachers, police officers or nurses.

      Now, having mismanaged the economy for eight years as well as having lied about our situation by continually insisting, "The fundamentals of our economy are strong," the Bush administration, six weeks before an election, wants the middle class of this country to spend many hundreds of billions on a bailout.

      The wealthiest people, who have benefited from Bush's policies and are in the best position to pay, are being asked for no sacrifice at all. This is absurd. This is the most extreme example that I can recall of socialism for the rich and free enterprise for the poor.

      {"commentId":3094831,"threadId":"366515","contentId":"1906084","authorDomain":"steppin188"}
        Reply#33 - Wed Sep 24, 2008 6:58 PM EDT
        {"commentId":3094907,"authorDomain":"jibade7"}

        I'm already facing depression... when the Repubs actually picked Palin to run as V.P. How much lower can we go?

        {"commentId":3094907,"threadId":"366515","contentId":"1906084","authorDomain":"jibade7"}
        • 3 votes
        Reply#34 - Wed Sep 24, 2008 7:00 PM EDT
        {"commentId":3094955,"authorDomain":"biggerthebetter"}

        She's a "quick study". It only took her 6 or 7 years to finish her degree, and 5 schools to do it in. Hehe. She's as quick as Alaskan water.

        {"commentId":3094955,"threadId":"366515","contentId":"1906084","authorDomain":"biggerthebetter"}
        • 4 votes
        Reply#35 - Wed Sep 24, 2008 7:01 PM EDT
        {"commentId":3095250,"authorDomain":"jvillarreal"}

        Great. Chatty Cathy will now have a new line. Pull string to see which one she'll say next.

        {"commentId":3095250,"threadId":"366515","contentId":"1906084","authorDomain":"jvillarreal"}
        • 2 votes
        Reply#36 - Wed Sep 24, 2008 7:09 PM EDT
        {"commentId":3095596,"authorDomain":"jms2qc"}

        It's about time the right wing decided to acknowledge that this is not just going to blow over.

        "The CBS interview was just her third major interview in nearly four weeks on the GOP presidential ticket. 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.'"

        Even if CBS had to coerce her to respond in that manner.

        But a bipartisan REFORM is exactly what is needed.

        {"commentId":3095596,"threadId":"366515","contentId":"1906084","authorDomain":"jms2qc"}
          Reply#37 - Wed Sep 24, 2008 7:18 PM EDT
          {"commentId":3096008,"authorDomain":"happycamper4life"}

          Palin is not ready to be a heart beat away from the Presidency.

          {"commentId":3096008,"threadId":"366515","contentId":"1906084","authorDomain":"happycamper4life"}
          • 1 vote
          Reply#38 - Wed Sep 24, 2008 7:28 PM EDT
          {"commentId":3096105,"authorDomain":"monger-1"}

          Did she figure this out, all by herself, within the last week or so?
          She must be a true Republican!!!!

          {"commentId":3096105,"threadId":"366515","contentId":"1906084","authorDomain":"monger-1"}
          • 1 vote
          Reply#39 - Wed Sep 24, 2008 7:30 PM EDT
          {"commentId":3096229,"authorDomain":"st-theresa"}

          Wow, what a unique perspective on the current situation. We never would have known this without her. Now, can she handle a press conference like Obama did today?

          {"commentId":3096229,"threadId":"366515","contentId":"1906084","authorDomain":"st-theresa"}
          • 4 votes
          Reply#40 - Wed Sep 24, 2008 7:33 PM EDT
          {"commentId":3096408,"authorDomain":"ghetto-otaku"}

          No....

          But I would have watch it for kicks & crackers....!

          {"commentId":3096408,"threadId":"366515","contentId":"1906084","authorDomain":"ghetto-otaku"}
          • 2 votes
          #40.1 - Wed Sep 24, 2008 7:38 PM EDT
          Reply
          {"commentId":3096760,"authorDomain":"antoniojvr"}

          Interesting. Our year to date average unemployment is around 5.5%. The average from 1980 to 2007 is 6.09%. This is my kind of depression!

          {"commentId":3096760,"threadId":"366515","contentId":"1906084","authorDomain":"antoniojvr"}
            Reply#41 - Wed Sep 24, 2008 7:48 PM EDT
            {"commentId":3097407,"authorDomain":"comsen"}

            You don't know what you're talking about.

            {"commentId":3097407,"threadId":"366515","contentId":"1906084","authorDomain":"comsen"}
            • 1 vote
            #41.1 - Wed Sep 24, 2008 8:05 PM EDT
            {"commentId":3097711,"authorDomain":"behindmyscreen"}

            Talk about not knowing what they are talking about.... who said we are IN a depression? we are certainly headed for one if these banks fail and credit dries up and companies can not longer do business because of it.

            IT will be come one if the top corporate insurer in the world goes belly up and companies can not longer offset their risks and thus can not do business.

            {"commentId":3097711,"threadId":"366515","contentId":"1906084","authorDomain":"behindmyscreen"}
            • 2 votes
            #41.2 - Wed Sep 24, 2008 8:14 PM EDT
            Reply
            {"commentId":3096782,"authorDomain":"roxanne1000"}

            What The...??? She has given a THIRD interview??? What a Shocker!

            And Laura says Palin is a "quick study"???

            Yeah right! I know of at least FIVE colleges that will disagree with that assessment.

            {"commentId":3096782,"threadId":"366515","contentId":"1906084","authorDomain":"roxanne1000"}
              Reply#42 - Wed Sep 24, 2008 7:48 PM EDT
              {"commentId":3096785,"authorDomain":"jibade7"}

              I heard Biden the other day... how are the two of them even going to talk on the same level? Does he caribou hunt maybe... common ground there possibly?

              {"commentId":3096785,"threadId":"366515","contentId":"1906084","authorDomain":"jibade7"}
                Reply#43 - Wed Sep 24, 2008 7:48 PM EDT
                {"commentId":3096982,"authorDomain":"islam-zia"}

                DUH!!! DO u need to be a rocket scientist to figure this?? YOU STATE THE OBVIOUS AND MSM PICKS IT UP!! BRAVO MSM!!!!???!!!

                {"commentId":3096982,"threadId":"366515","contentId":"1906084","authorDomain":"islam-zia"}
                  Reply#44 - Wed Sep 24, 2008 7:54 PM EDT
                  {"commentId":3096994,"authorDomain":"rittnnsnow"}

                  Of course there is going to be a great depression - We the People want one (look at how many rich people committed suicide during the last one...)...but my question still is, where does all that money disappear to, because it's registered somewhere somehow...value drops, oh yeah! Nothing is worth anything when people are broke - they just survive or die, or kill trying to survive...bring it on!

                  {"commentId":3096994,"threadId":"366515","contentId":"1906084","authorDomain":"rittnnsnow"}
                  • 1 vote
                  Reply#45 - Wed Sep 24, 2008 7:54 PM EDT
                  {"commentId":3097894,"authorDomain":"rittnnsnow"}

                  Hey all you Republicans, tell them Democrats - Y'all ain't Indepent and you're not Right where I'm at, but you'll be Left - behind all my Conserve-ative views...If you don't get the picture soon - I'm going Green!

                  {"commentId":3097894,"threadId":"366515","contentId":"1906084","authorDomain":"rittnnsnow"}
                    Reply#46 - Wed Sep 24, 2008 8:20 PM EDT
                    {"commentId":3098699,"authorDomain":"rbland"}

                    Be very afraid, people!

                    First, it was possible mushroom clouds over New York.

                    Then it was Ike ("Storm of the century").

                    Then it was Gustav ("Certain Death!).

                    Then it was that the next terrorist could be a Canadian with an American face.

                    Now you're going to live through a Great Depression if you don't hand over the money right away.

                    I think someone's trying to yank your chains.

                    {"commentId":3098699,"threadId":"366515","contentId":"1906084","authorDomain":"rbland"}
                      Reply#47 - Wed Sep 24, 2008 8:46 PM EDT
                      {"commentId":3098958,"authorDomain":"ghetto-otaku"}

                      Sure, let them come and take my freedom then...

                      I got a special Friend in the closet that says they WON'T....!

                      {"commentId":3098958,"threadId":"366515","contentId":"1906084","authorDomain":"ghetto-otaku"}
                      • 1 vote
                      #47.1 - Wed Sep 24, 2008 8:54 PM EDT
                      Reply
                      {"commentId":3099327,"authorDomain":"beamerab3"}

                      Wow, Ms. Palin. Incisive deduction. What happened? Were you looking out your window and catch the Russians semaforing about America's current economic state?

                      {"commentId":3099327,"threadId":"366515","contentId":"1906084","authorDomain":"beamerab3"}
                        Reply#48 - Wed Sep 24, 2008 9:07 PM EDT
                        {"commentId":3099893,"authorDomain":"qeckit"}

                        The only depression she knows about is the one on that 26 million dollar road to nowhere she had built.

                        {"commentId":3099893,"threadId":"366515","contentId":"1906084","authorDomain":"qeckit"}
                          Reply#49 - Wed Sep 24, 2008 9:29 PM EDT
                          {"commentId":3103903,"authorDomain":"biggerthebetter"}

                          I'm not worried. I heard somewhere that the fundamentals of the economy were strong. I don't think the guy who said it would lie...

                          nah.

                          {"commentId":3103903,"threadId":"366515","contentId":"1906084","authorDomain":"biggerthebetter"}
                          • 1 vote
                          Reply#50 - Thu Sep 25, 2008 12:39 AM EDT
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