Palin's first major gaffe

United States
September 8, 2008 1:25pm CST
While some people are harping on whether an accidental utterance of "Muslim" should magically overcome what god one prayed to for the last two decades, things of actual CONSEQUENCE are coming up. Recently, Sarah Palin demonstrated a fundamental misunderstanding of the economy: "Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had "gotten too big and too expensive to the taxpayers." The companies, as McClatchy reported, "aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization." Economists and analysts pounced on the misstatement, saying it demonstrated a lack of understanding about one of the key economic issues likely to face the next administration. "You would like to think that someone who is going to be vice president and conceivable president would know what Fannie and Freddie do," said Dean Baker, co-director of the Center for Economic and Policy Research. "These are huge institutions and they are absolutely central to our country's mortgage debt. To not have a clue what they do doesn't speak well for her, I'd say."" --http://www.huffingtonpost.com/2008/09/08/palin-makes-her-first-gaf_n_124792.html The economy is the #1 issue for voters this cycle, and I think it's quite significant for a potential Vice-President to have no idea how such a major part of the mortgage system in the U.S. works, even on a fundamental level.
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6 responses
@N4life (851)
• United States
9 Sep 08
This woman is horrible and Hillary Clinton could kick her but, with or without lipstick.
3 people like this
@Taskr36 (13928)
• United States
8 Sep 08
Well I could start by pointing out your source is the Huffington Post, which is well known as one of the most liberal news reporters out there. I'll let that slide and simply point out that all the criticism of her on that site is based on opinion. That is why you have remarks like this one: "Meanwhile, as Baker noted, as of July the two lenders were being offered low market interest rates by the fed again, theoretically, at the taxpayer's expense. But, he added, "I kind of doubt she had any sense of that."" They differ in their opinions as to whether it could be an issue for taxpayers. That does not immediately mean she doesn't know who they are or what they do. There's no question, even in the article, as to whether they are too big. The only question about her statement is whether they are, or will be too expensive for taxpayers. It's all speculation. Here's another statement that is only half true. "The major concern about Palin's position on the ticket is that she lacks the economic and foreign policy wherewithal to serve as vice president." There is certainly no question as to her economic experience since she's proven throughout her political career that she is extremely talented when it comes to budgets. Few people can boast such a budget surplus as to allow them to give taxpayers $1200 checks to offset gas prices.
2 people like this
• United States
8 Sep 08
The jury is still out on the whole issure regarding Palin's economic's in Alaska taskr. There is a lot still unkown about her and if it is up to the Republican machine, it will be until election day. You would grasp on the above comments from the above source if they supported your position and you know it.
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@Taskr36 (13928)
• United States
8 Sep 08
"You would grasp on the above comments from the above source if they supported your position and you know it." It's an opinion piece. If a liberal outlet like the Huffington Post supported my point, then yes I'd use it because Liberals have a habit of refusing to read anything that is from an organization like Fox News that may not be written by liberals, for liberals.
1 person likes this
• United States
8 Sep 08
Palin made it clear that she thought Freddie Mac and Fannie Mae were tax-funded organizations, and that the problem with them is that they got too expensive for taxpayers, when they've been privately funded all along. Very simple situation, very fundamental mistake. I'm astonished that you're even attempting to spin something this cut-and-dry.
2 people like this
@bobmnu (8160)
• United States
8 Sep 08
I just read some of the information on the Freddie Mac web site and First it is a Corporation formed by the government with its Board appointed by the President. The Scet of the Treasure is permitted to buy Freddie Mac Securities up to 2,500,000,000 (Billion in case you lost count of the zeros) in total holdings. Congress can change its mission and role. It sounds to this poor old boy as though it is a government agency and as of today it is funded by the tax payers. If it is a Big Corporation lets see the US Senate Banking Committee hold hearing and tell us who the guilty parties are. The Director appointed by President Clinton walked away with $50,000,000 + in an accounting mix up - no charges filed. The new Director appointed by President Bush, Nancy "The Wall of Separation Letter" (between The FBI, CIA, Justice Dept, Immigration and other law enforcement on Terrorism) Garrick walked away with a couple of million dollars Bonus. The bad Enron Boys went to Jail. That right they did not give the Senators below market Loans through Companies they dealt with. Since we are dealing with Democrats investigating Democrats we will see no action.
2 people like this
@ZephyrSun (7387)
• United States
8 Sep 08
In my personal opinion I'm sure the debates will prove a lot to the American people. In my personal opinion either way I don't think it will change some close minded people. In my personal opinion there are some people that would be happy if Palin went to the debates and just sat there and didn't say anything. Oh, did you understand that these were just all my personal opinions?
2 people like this
@KrauseHome (32391)
• United States
8 Sep 08
Personally, I feel that she is lacking experience, which is going to be a downfall for sure. This was not the only time I have seen things like this, and it will be interesting to see come the Vice President debates how she can hold up. I just think she is biting off more than she can chew here.
@anniepa (26301)
• United States
9 Sep 08
That's the standard this year - Obama says "57" when he meant to say "47" and mixes up "City" for "Falls", or was it the other way around, regarding a city that's name begins with "Sioux" and it's a major crisis but McCain confuses Sunni and Shiite three or four times, keeps referring to nations that no longer exist and thinks there's a common border between Iraq and Pakistan and that's no problem. I agree with you 100% when you say, "The economy is the #1 issue for voters this cycle, and I think it's quite significant for a potential Vice-President to have no idea how such a major part of the mortgage system in the U.S. works, even on a fundamental level." I think the key word here may be "fundamental"; when you're dealing at least in part with religious fundamentalists, silly things like issues rarely get in the way! Annie
1 person likes this