Summary of Sarah Palin's Economic Views:
As Governor of Alaska, Sarah Palin has demonstrated her position on energy and oil prices, a balanced budget, cutting taxes, and spurring economic growth. However, she has not publicly stated her position on many important national topics, such as the free trade, military spending and any stimulus to the current economic slump. Nevertheless, she provides a good balance to Presidential Candidate John McCain's economic platform on most issues.
Palin Does Not Address True Cause of High Gas Prices:
As Governor, Palin sought to spur economic growth and increase energy supplies by supporting drilling in the Alaska National Wildlife Refuge (ANWR). She signed a contract for a $26 billion natural gas pipeline with TransCanada Corp. To help Alaskans with high gas prices, she gave a one-time $1,200 tax rebate and repealed the state’s 8-cents-a-gallon gasoline tax for a year. The funds for these consumer rebates will come from a windfall profits tax she imposed on oil companies last year.
However, these measures don't address oil market speculation, which is the true cause of primary cause of high gas prices. Palin's stance on ANWR is the opposite of McCain's energy platform, who supports increased exploration of alternative energy sources. (Source: WSJ, Palin Shores Up Some Economic Credentials for McCain, August 29, 2008)
Palin Supports a Balanced Budget and Tax Relief:
Palin's commitment to fiscal responsibility would be good for the economy. Before becoming Governor, Palin was Mayor of Wasilla, where she cut property taxes 60% while spurring economic growth. She sold a $2.1 million corporate jet bought by her predecessor, and cut $231 million from Alaska's $550 million capital budget. She would try to cut the $9 trillion federal debt. (Source: WSJ, Jet That Helped Defeat an Alaska Governor Is Sold, August 25, 2007; Alaska Journal of Commerce, Lawmakers cringe over governor's deep budget cuts, July 8, 2007)
Her support of a balanced budget would balance McCain's deficit spending mentality, if he listens to her. His experience in Washington would balance her lack of experience in national politics, which could render her ineffective. Before become Governor December 2006, Palin was Mayor for only two terms, and served on the city council before that.
Palin and Free Trade:
Governor Palin's views on national free trade policies are unknown. However, that is not an issue, as Senator McCain's support of free trade agreements will spur economic growth. (See John McCain and Trade)
