The pitbull in lipstick said in an Anchorage speech that Obama's economic plan is "backwards" and will create trillions of dollars of new debt -- and that it makes her "wonder what the heck" the administration has in mind.
"Since when can you get out of huge national debt by creating trillions of dollars of new debt?" Palin asked the audience at an Anchorage speech introducing Ronald Reagon's son Michael.
"We need to be aware of the creation of a fearful population, and fearful lawmakers, being led to believe that big government is the answer to bail out the private sector," CNN reported Palin saying. "Then, government gets to get in there and control the people."
The Alaska governor said Obama's economic recovery package "absolutely [defied] Economics 101" and that it flew "in the face of principles" that enable Americans to participate in a capitalist economy.
Palin is rumored to be one of the top contenders for the GOP nomination in the 2012 Presidential election but has taken heat from politicians and pundits alike for frivolous spending and questionable ethics policies.