Palin Great Depression

Sarah Palin has said that the United States risks facing another Great Depression if the Congress doesn't deal with the current financial crisis. Palin made the comment in an interview with Katie Couric from CBS News in New York City on September 23.¹ Palin was in New York to meet foreign leaders visiting for the UN General Assembly meeting in September 2008.

Fast Facts

Said the comment on September 23, 2008
George W. Bush presented a $700 billion rescue plan for the financial market on September 20, 2008
Comment was a response to a question from Couric if Palin thought there was a risk for a new Great Depression if the bailout plan was not approved¹
Palin said there was a risk if no action was taken¹
Said other options should be considered to deal with the financial crisis¹

The Presidential Candidates on the Bailout Plan

Presidential candidates John McCain, who Palin is running with, and Democratic Party Barack Obama has both said they support a bailout plan, although not necessarily the plan proposed by Bush On September 24, McCain suggested the presidential debate on September 26 would be put on hold while he and Obama deals with the current financial crisis and work on a bipartisan solution. Obama wanted to go on with the debate as planned and that a president has to be able to deal with several things at the same time.²