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The Drudge Report gets a transcript of Sarah Palin's appearance on Fox News tonight:

PALIN: Well, when you consider that the federal government is about eleven trillion dollars in debt, and we're borrowing more to spend more.. it defies any sensible economic policy that any of us ever learned through college. It defies economy practices and principles that tell ya 'you gotta quit digging that hole when you are in that financial hole'

Palin continues:

"America is digging a deeper hole and how are we paying for this government largesse. We're borrowing. We're borrowing from China and we consider that now we own sixty percent of GENERAL MOTORS - or the U.S. government does... But who is the U.S. government becoming more indebted to? It's China. So that leads you to have to ask who is really going to own our car industry than in America."

HANNITY: You know but it goes back - It does go back a little to the campaign. I mean, 'spread the wealth, patriotic duty...'

PALIN: Kind of a 'we told ya so'.

HANNITY: Well, is that how you feel?

PALIN: That's how I feel! I feel like... and I think that more and more constituents are going to open their eyes now and open their ears to hear what is really going on and realize ok... Maybe we didn't have a good way of expressing that, or articulating that message of 'here is what America could potentially become if we grow government to such a degree that we cannot pay for it and we have to borrow money from other countries, some countries that don't necessarily like America.

And this many months into the new administration, quite disappointed, quite frustrated with not seeing those actions to rein in spending, slow down the growth of government. Instead Sean it is the complete opposite. It's expanding at such a large degree that if Americans aren't paying attention, unfortunately our country could evolve into something that we do not even recognize.

So, even as Palin is rebuffed by the National Republican Congressional Committee--which reportedly did not want her to speak at a fundraising dinner tonight for fear she'd overshadow keynote speaker Newt Gingrich--the govnernor makes a big headline today without appearing at the party engagement, with a "we told ya so" line that will probably reach more conservative voters anyway.

(Note: this is the second time Palin has accused President Obama's economic policies of clashing with basic, college-level economics--something Conor Clarke has taken issue with on his Atlantic Correspondents blog.)