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Did Sarah Palin really say that?

Sarah Palin.

"And you know, back in the day, we used to hear that, 'Hey, it's the economy stupid.' Well, now, simply put, it's the spending, stupid! What's going on now with our bloated, overreaching, fat, nauseating spending from federal government, taking more state and individual control from Americans and trying to do it all on a federal level, which is creating this bankrupt situation that we're facing now!"—in an interview with Fox News' Greta Van Susteren, July 26, 2011

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Jacob Weisberg is chairman and editor-in-chief of the Slate Group and author of The Bush Tragedy. Follow him at http://twitter.com/jacobwe.

Photograph of Sarah Palin by Ethan Miller/Getty Images.