Palin: Government wants to 'control the people'

(CNN) – Alaska governor Sarah Palin let loose Wednesday on the Obama administration for enacting fiscal policies that "fly in the face of principles" and "defy Economics 101."

In a speech introducing Michael Reagan — the son of former President Ronald Reagan — to an audience in Anchorage, Palin warned that the government is planning to "bail out debt ridden states" so it can "get in there and control the people."

"Since when can you get out of huge national debt by creating trillions of dollars of new debt?" Palin asked. "It all really is so backwards and skewed as to sound like absolute nonsense when some of this economic policy is explained."