Watch CBSN Live

Palin Warns Of "Perfect Storm" Of Economic Woes

From CBS News' Scott Conroy:

(GREEN BAY, Wisc.) In brief remarks before introducing John McCain at the Green Bay Chamber of Commerce, Sarah Palin said that four damaging economic elements had combined to form a "perfect storm" or economic woes for the nation.

"Times are tough right now across our country and Americans are facing kind of elements of a perfect storm that we've got to make sure don't all come together at this time," she said. "High taxes, that's one of the elements that can result in a perfect storm that will not be good for the future of America. High gas prices, dependence on energy sources from foreign sources—foreign sources that don't necessarily like America—they certainly don't have our best interests at heart."

Palin said that there was "too little courage in Washington" to adequately address these elements. The Alaska governor then sounded a populist note.

"And then too much greed on Wall Street—excess on Wall Street—and kind of that status quo politics as usual acceptance of what's been going on on Wall Street," she said.

Palin said that John McCain was prescient in warning the nation about the instability of Fannie Mac and Freddie Mae two years ago.

"He's got some great foresight on a whole lot of other fronts also—the war in Iraq and so many other things affecting America and our future," she said.

View CBS News In
CBS News App Open
Chrome Safari Continue