Palin Skewers Obama: 'It's the Spending, Stupid ... the President Does Not Know What He's Doing'

Sarah Palin on "On the Record with Greta Van Susteren": "Look at President Obama. When he was a senator, he said he didn't think that raising taxes during a bad economy was a good idea. Now he thinks it's a good idea. He said, too, that raising the debt ceiling back then was a bad idea and it was a reflection of poor leadership. Well, now he wants to raise the debt ceiling and incur more debt, Greta.

And this is the problem. Let me go back to President Obama and what his problem is. He doesn't understand that we have a spending problem in this country. And you know, back in the day, we used to hear that, "Hey, it's the economy stupid." Well, now, simply put, it's the spending, stupid! What's going on now with our bloated, overreaching, fat, nauseating spending from federal government, taking more state and individual control from Americans and trying to do it all on a federal level, which is creating this bankrupt situation that we're facing now!

It's immoral. It's unethical. It doesn't make any sense economically, or as I say, morally, because we're handing these bills to our children and our grandchildren.

President Obama does not know what he is doing when we asked him to lead us out of this situation that we're facing with bankruptcy! He's exacerbating the problem! He's making it worse by wanting to incur more debt, grow government and not presenting any kind of plan to the American people to show us what he really believes the solution is!"