September 25th, 2008
07:06 AM ET
14 years ago

Palin: Another Great Depression could happen

(CNN) - John McCain’s public position on the state of the nation’s economy has shifted since his early optimism of last week, as the Republican nominee maintains that the country faces its worst economic crisis since World War II.

In a rare television interview, Sarah Palin went a bit further: asked another Great Depression looms if a bailout plan is not approved quickly, Palin told CBS’s Katie Couric: "Unfortunately, that is the road that America may find itself on."

Watch: Is Palin avoiding the media?

McCain later told Couric that although he believes conditions are dire in the nation’s financial markets, he’s not sure "if exactly a depression" would happen. "I don't think we need to scare people, but I do think we need to tell people the truth," he said.

Palin pointed to John McCain’s warnings about the state of Fannie Mae and Freddie Mac two years ago. She could not point to other instances where he had pushed for stricter oversight. “But can you give me any other concrete examples? Because I know you've said Barack Obama is a lot of talk and no action. Can you give me any other examples in his 26 years of John McCain truly taking a stand on this?” asked Couric.

Palin replied. “I can give you examples of things that John McCain has done, that has shown his foresight, his pragmatism, and his leadership abilities. And that is what America needs today.” Pressed for more specific examples, Palin responded: “I'll try to find you some and I'll bring them to you.”

The interview took place before McCain’s campaign told CNN that the Arizona senator was looking to move the date of the first presidential debate to October 2 – currently slated as the day Palin would face off with Democratic VP nominee Joe Biden.

Filed under: Sarah Palin
soundoff (378 Responses)
  1. Beverly, NYC

    I didn't see the interview did McCain actually say "I do think we need to tell people the truth". When he and his running mate start doing this please let the rest of us know.

    As for suspending his campaign, please give me a break. I hope Obama doesn't blink, and lets you and Bush know that you can either have a debate on Friday, or see him looking presidential at a town hall in Mississippi. I'm sure you had time to return Bono's call yesterday, while you were caring about the rest of us. This "crisis" has been going on since last week and rich guys are still rich and poor guys are poorer, and John McCain cares more for bailing out his rich buddies.

    September 25, 2008 10:41 am at 10:41 am |
  2. pat ny

    only if McCain/Palin is in the white house

    September 25, 2008 10:42 am at 10:42 am |
  3. Truth be told

    She is right on target.

    This plan may alleviate it or prolong it- either way, ALL Americans WILL pay the piper for the unethical and irresponsible actions of a few.

    Don't kill the messenger.

    Sarah is the only politician telling us the real truth.

    September 25, 2008 10:42 am at 10:42 am |
  4. spice

    No coment realy she is a fool where will she get them from and when will she bring them. What a joke she has no substance.

    September 25, 2008 10:43 am at 10:43 am |
  5. Mary

    It was recommended that I play the devil's advocate, and see why the McCain*Palin ticket appeals to others. I can't seem to do it.

    I've heard references to the great depression all week, and all of a sudden Sarah says it and it is taken as prophecy. She knows nothing of the economy to boot. What a crock. Shall we wash her feet?

    September 25, 2008 10:43 am at 10:43 am |
  6. Phantom of the Oprah

    Obama needs to stop putting his campaigning AHEAD of his current job as senator.

    Obama is being PAID to do his current job. Time to stop campaigning and take on his responsibility as a sitting Senator.

    I applaud McCain's leadership on this.

    Obama is out for himself. He needs to do the job he is already hired to do and not worry about the new job he wants to have.

    September 25, 2008 10:44 am at 10:44 am |
  7. Felly

    Palin is a lightweight.

    September 25, 2008 10:45 am at 10:45 am |
  8. Obamabots Self Destructing is Funny

    Obamas teleprompter is having issues in his speech! LOL This is a leader or a good reader? Give him a sticker, good boy Barack.

    September 25, 2008 10:45 am at 10:45 am |
  9. dave g, minneapolis

    yes, and by taking $1Trillion out of our pockets, it's not going to help.

    The bipartisan crowd is running towards the cliff happily together. Only one candidate is saying this is STUPID. It is Bob Barr. He has spoken out against these bailouts. I know the spin is the fear-mongering of the Dems and Republicans about a great depression, but each time a too-big-to-be-allowed-to-fail corporation starts to fail, we bail them out. Each time, bigger and bigger and more dire consequences if we don't.

    It's time we held our ground and stopped the madness. Where is the government's money actually coming from? Who bails out the government. Our debt is huge and growing like crazy. For all of the Republicans who chant" smaller government" Your only chance is to vote Barr. For Democrats who dream back to the days of Clinton's reduction of the deficit and a plan for the debt, Your only chance is Barr. For those who understood Perot's message–things have only deteriorated and Your only choice is Barr.

    Don't let the two parties scare us into giving up more of our money. This is loan-sharking pure and simple. The two parties are trying to bully us into ponying up more cash. Do YOU have extra cash to give for taxes? I don't. I'm voting for Bob Barr.

    September 25, 2008 10:45 am at 10:45 am |
  10. J Boyd NYC

    Nice to know that Palin is an economic expert as well as a foreign policy expert, since from her hotel room in NYC she can see Wall Street!

    My mind is now at ease.

    September 25, 2008 10:45 am at 10:45 am |
  11. APH

    HA! So this is the reason why McCain wants to "postpone" the VP debates...He's afraid Mrs. "I'm-Ready-to-be-Veep" is going to stick her foot in her mouth and send his already spiraling-out-of-control campaign into further oblivion.

    September 25, 2008 10:45 am at 10:45 am |
  12. Betty

    The Republicans only use FEAR. If they do not intend to scare to us, while is McBush doing what he is doing, calling off debates, suspending his campaign, so he can do what? He has no place in DC now or ever. He thinks he is the BIG DOG and he is calling the shots, telling others what they can do. When did he become a director of how both campaigns are run and when things will happen? Bring on the debates, continue with the campaigns, and lets get this thing over with. Nov 4 can not come to soon for me.
    Time limits are needed as well as how long a campaign can be run. Two years is a bit long. I think if you are going to run for another office, you need to give up the one you already have so that governement can continue without you. If you lose, well buddy you are out of a job.

    September 25, 2008 10:46 am at 10:46 am |
  13. Angela

    Palin looked out of the window to get this one too!!! She has a big hole(depression) in her back yard!!!

    September 25, 2008 10:46 am at 10:46 am |
  14. Jorge

    McCain supposedly suspended his campaign to go to Washington to help solve the financial crisis. What is he doing this morning in New York giving a speech? This is his idea of suspending his campaign?
    As usual, McSame is flopping around in an erratic fashion, running his mouth, flailing his arms, and accomplishing nothing except stealing Barack Obama's ideas and turning himself into a distraction from the country's real problems.
    The debates are the country's only chance to make a side by side comparison of the candidates, and he wants to duck out. Is he afraid that he and Palin can't stand up to the scrutiny of the voters?

    September 25, 2008 10:47 am at 10:47 am |
  15. Central Scruitinizer

    Im quite sure MANY people will be very depressed if Farah Failin finds her way into the White House

    September 25, 2008 10:47 am at 10:47 am |
  16. mitchell

    what the hell does she know about anything?

    September 25, 2008 10:47 am at 10:47 am |
  17. Deepa

    Sarah Palin is not ready for Press, for Debate and for Presidency. After 8 yrs of republicans in Washington, do we need more?..Wake up America.

    September 25, 2008 10:47 am at 10:47 am |
  18. Paul Dobro

    Is it me, or is McCain's left eye now half closed. Has this always been or is this new or am I seeing something that is not there.

    Watching his speech announcing his suspension of the campaign and even that talk at the Clinton deal, his left eye does not look right.

    September 25, 2008 10:48 am at 10:48 am |
  19. beevee

    How does McCain think this empty head is a presidential or a VP material?

    September 25, 2008 10:48 am at 10:48 am |
  20. CitizenS

    She is, unfortunately, an idiot due to being placed in water over her head. Nice try Palin but you need some more seasoning so you won't sound like a mechanical robot further indicating your lack of knowledge.

    September 25, 2008 10:48 am at 10:48 am |
  21. Straight talker

    Lets shoot the messenger.

    Of course she is right.

    People want to be lied to, but she is a straight shooter.

    Easy credit got us here. Even this plan may not save us. At best it will soften and cushion the blow.

    September 25, 2008 10:49 am at 10:49 am |
  22. Matt

    I say media outlets should give her and McCain a deadline for Palin to be made available.

    No interviews and/or press conference by the deadline = absolutely no coverage of Palin.

    Grow a pair and take control of the situation CNN. They can't live without the media, and they know that, but you can live without her. The media is allowing McCain/Palin to manipulate it by apoproaching them as supplicants and publishing whatever scraps they throw you. Stop publishing scraps until they give you actual substance.

    September 25, 2008 10:49 am at 10:49 am |
  23. Tired of W, OH

    Palin is the perfect figure-head for the republican party. She gives snappy one-liners, but she doesn't know much, doesn't do much, and when she does act, she makes a collosal mess out of it.

    September 25, 2008 10:50 am at 10:50 am |
  24. Merlin

    Hey, why don't McCain/Palin suspend the election on 4th Nov indefinitely as it has lots of things to stand up to. The October Surprise is to put aside politics and suspend the election for Bush to carry on.

    September 25, 2008 10:50 am at 10:50 am |
  25. Uncle Sam

    Which candidate showed more leadership during the financial crisis:

    The one who set aside politics as usual to do the business of the American people...
    or the one who would rather multi-task from a safe distance?

    September 25, 2008 10:50 am at 10:50 am |
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