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Palin a Multi-Millionaire, Faces Cold Alaska

November 18, 2008 · Leave a Comment

Sarah Palin appears close to getting a $7 million to $11 million book deal after her unsuccessful run for Vice-President and emergence as the poster-girl for the Religious Right.  Based on her popularity with her base, there seems to be a built-in market for the book.  Personally I’d prefer that she just dictate the book and have it transcribed, along with a Palin-to-English dictionary, so that we’d get some real insight into her thought processes.  My guess is that a ghost writer will shoulder most of the writing burden.

Unfortunately for Palin she has to go back to Alaska and deal with a reality on the cold frozen ground that is very different than it was in August.

  1. Diminished standing of the “Sarah Palin Brand.” All of the national attention certainly brought out home-state pride, but it also highlighted Palin’s inexperience.  Many in Alaska were frankly embarrassed by her performance and the resulting negative image spillover onto Alaska.  Her approval ratings in Alaska have plummeted from their stratospheric heights.
  2. Troopergate fallout. There are many in Alaskan government bitter at the way that Palin and the McCain-Palin campaign handled the Troopergate inquiry.  They may even investigate whether individuals urged witnesses to not appear; something that would constitute witness tampering under Alaska law.  The findings of the independent investigator highlighted a Palin administration that did not follow proper disclosure policies (private e-mail for public business) and seemed obsessed by a personal vendetta.
  3. Questionable Billings to the State. Palin’s claims for per diem payments for time spent at home and her reimbursements from Alaska for family travel (and failing to report those payments as income) could come under new scrutiny.  The legislature is likely to create rules to make clear that these practices are unacceptable.
  4. State Budget. Alaska depends on taxes and fees on oil companies for the vast majority of its budget (no state income tax or property tax exists).  With the price of oil dropping, Alaska’s revenue faces a dramatic decrease.  Palin had governed in a time of easy money; the new economic realities will prove to be a significant hurdle for the Governor.
  5. The Pipeline. Palin trumpeted the natural gas pipeline deal with TransCanada with as her crowning achievement, but it has not been built and may never be built.  She led the effort to spend $500 million by the State to plan for the pipeline, but no other private or public money has been committed for the multi-billion dollar construction of the pipeline, and there is no guarantee that it will be built.

Categories: McCain · Palin · Palintology · Troopergate
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