Palin: Words against Obama, mum on her plans

Tea Party supporters walk past a sign of Sarah Palin during the Tea Party of America's "Restoring America" event at the Indianola Balloon Festival Grounds, September 3, 2011 in Indianola, Iowa.
Scott Olson/Getty Images

Former Alaska Governor Sarah Palin had a lot to say today about America's future under Barack Obama, but little about her own.

Cheers of "Run, Sarah, run" greeted Palin at a Tea Party rally in Indianola, Iowa Saturday, but in her speech the 2008 GOP vice presidential nominee didn't give any indication whether she's going to jump into the 2012 presidential race.

Palin has kept Republicans guessing for months whether she would enter the race; many expect no decision from her until late September.

Palin did have harsh words Saturday for President Obama and the direction that she says the country has taken in his first term.

Speaking at the rain-soaked Indianola Balloon Festival Grounds, she said "America is hurting" and at "a tipping point" due to "failed policies and incompetent leadership."

Palin said the crisis runs deeper than the fear of double-dip recession or "the shame of a credit downgrade."

She says this crisis "will relentlessly rage until we do restore all that is free and good and right about America."

On "The Early Show on Saturday Morning," New York Times national political correspondent Jeff Zeleny said that time is running out for Palin if she wants to make a go for the GOP nomination.

"I don't think we're going to see an announcement from her over this Labor Day weekend, but she's acknowledged herself that September is a critical month for her to make a decision," Zeleney said. "Some of her aides are sort of keeping a team in-waiting, if she gives that go-ahead signal. But right now, I think the only (one) who knows ... is Sarah Palin herself, and she's not saying. ... But she knows that time is about running out here. She can't keep pulling the string much longer."

To watch the "Early Show" interview click on the video player below.