- (Photo: Reuters/Jonathan Ernst)
Sarah Palin has used Facebook to add her voice to the debate surrounding Standard & Poor’s downgrade of American debt, posting a message on her profile wall basically to say she was right all along.
Palin’s “I told you so” post highlighted that she warned in December 2010 that the U.S. could lose its AAA rating. She used the opportunity to rebuke President Obama saying: “One doesn't need a Harvard Law degree to figure this out!”
The former Alaskan Gov. also quoted herself from a speech she made in May when she issued a warning about government overspending.
Offering Obama some advice about how to fix the situation, Palin proposed to “stop this deficit spending, balance our budget, repeal Obamacare, cancel all unused stimulus funds, and reform our entitlement programs.”
She urged the president to prioritize his spending and to cancel or defer less important programs and expenditure.
Last Friday, the credit rating agency Standard & Poor's downgraded the U.S.'s credit rating from AAA to AA+.
The downgrade has been attributed to shortcomings in the recently passed debt limit deal and instability in the policymaking process that accompanied it.
In response Palin said in her lengthy post that she was "surprised that so many people seem surprised" by America’s recent credit rating downgrade.
"I've been writing and speaking about it myself for quite some time," Palin wrote.
Boasting of her commonsense Palin said, "Many commonsense Americans like myself saw this day coming.
"By what magical thinking did we figure we could run up perpetual trillion dollar deficits and still somehow avoid the unforgiving mathematics of a downgrade? Nothing is ever 'too big to fail.' And there's no such thing as a free lunch. Didn't we all learn that in our micro and macro econ classes? I did at the University of Idaho. How could Obama skip through Columbia and Harvard without learning that?”
Her 2,300 word post continued saying: "This debt problem is the greatest challenge facing our country today. Obviously, President Obama doesn't have a plan or even a notion of how to deal with it."
"That's why he can't be re-elected in 2012," she added.