"Hong Kong" Palin vs. "Katie Couric" Palin
By Jon Perr Thursday Sep 24, 2009 9:00am
Turning to Sarah Palin to explain the international economy and the role of government is like asking a dog why it likes to lick its rear end. But as an audience of investors and fund managers learned today in Hong Kong, Palin's cartoon-quality conservative platitudes don't merely fly in the face of the consensus of economic analysts. As a flashback to her catastrophic interview with Katie Couric reveals, Sarah Palin doesn't even agree with herself.
Palin's rewriting of history begins with the causes of the global economic meltdown. While the villains behind the calamity are many (see, for example, Time and the New York Times' excellent series, "The Reckoning"), for Sarah Palin there is only one. As the Wall Street Journal summed up her closed-door remarks:
"We got into this mess because of government interference in the first place," the former Republican U.S. vice presidential candidate said Wednesday at a conference sponsored by investment firm CLSA Asia-Pacific Markets. "We're not interested in government fixes, we're interested in freedom," she added.
Of course, those "government fixes" were not only badly need to stem the financial crisis, they've already paid huge dividends in reversing the slide of American gross domestic product (GDP), refilling empty state coffers and preserving up to a million jobs. As the reliably Republican Wall Street Journal put it three weeks ago:
"Many forecasters say stimulus spending is adding two to three percentage points to economic growth in the second and third quarters, when measured at an annual rate. The impact in the second quarter, calculated by analyzing how the extra funds flowing into the economy boost consumption, investment and spending, helped slow the rate of decline and will lay the groundwork for positive growth in the third quarter -- something that seemed almost implausible just a few months ago. Some economists say the 1% contraction in the second quarter would have been far worse, possibly as much as 3.2%, if not for the stimulus."
And during the 2008 campaign, then Governor Palin agreed about the need for government intervention. In her own confused and incoherent way, Palin defended to Katie Couric one year ago this week the kind of government bailouts she now decries. The benefits from $700 billion plan she and running John McCain endorsed, she insisted, all fall "under the umbrella of job creation."
"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. So health care reform and reducing taxes and reining in spending has got to accompany tax reductions and tax relief for Americans."











