Palin's object was to only sound decisive, matching her punchy delivery method to that of Biden's forceful style. The words -- they didn't matter. Anything that sounded like a word would do as long as she didn't pause, didn't sound thoughtful, didn't break pace.
northwoods describes the VP candidate's "Joycean stream of consciousness" as a generalized condition among politicians, who "never mind the meaning … fill up time so that the questioner is defeated and time runs out."
the little I've read about linguistics suggests, counter-intuitively, that the coherence and diagramability of [Palin's] speech aren't reliable indicators of her intelligence or clarity of thought. Chomsky's notion that language isn't the product of some sort of general intelligence, but of a specific module in the brain, is generally accepted today.
JerseyInsuranceGirl wonders, should Palin get elected, how translators will revamp and interpret her sentences in foreign languages. Scotboy56 gives it a try, and "with a few judicious uses/changes of punctuation, and one reordering of words," manages to make the Palin quote "read perfectly":
I know that John McCain and I, as his vice president, will do that. Families, we are blessed with that vote of the American people and are elected to serve and are sworn in on January 20. That will be. Our top priority is to defend the American people.