Palin's Resignation Raises Questions

A bombshell from Alaska Governor Sarah Palin -- the former republican vice presidential candidate announced she will resign from office on July 26.

Palin announced Friday afternoon that not only won't she seek re-election. She won't serve as a lame duck. She did not say precisely why.

Just 10 months after being tapped by John McCain to be his running mate, Palin announced from her home in Wasilla that she's stepping down in part because of political attacks.

Palin said her legal battles have cost the state $2 million and her family a $500,000. Her brother, chuck heath, said Palin felt she could no longer govern effectively because she spent 90 percent of her time defending herself from negative media attention and ethics complaints filed by political opponents in Alaska.

Some political observers are speculating that Palin may be resigning to focus on a presidential run in 2012. FOX News Sunday's Chris Wallace is not one of them.

On the eve of a holiday weekend, Sarah Palin announces she'll be stepping down as governor of Alaska July 26. The governor and her staff are keeping her future plans very much a mystery. Political analysts said she could be setting things up for a presidential run in 2012. They also say her move today could be a big risk.

It's what Palin did not say that has people wondering.

"Presidential races are now four year campaigns -- sometimes longer and she's got to immediately start hiring people," said political expert and moderator of The Georgia Gang Dick Williams.

Williams believes Palin is setting up a run for president.

"If we take her at her word and there's not another story that's going to come out on this, I think it's one of the most audacious moves we've seen in American politics," said Williams.

Someone observed, if you want to go to Iowa or NH for campaign trip for Mitt Romney, it's a one-day trip. For her, it's a three-day trip from the great state of Alaska," said.

By early evening, the news had spread at a Cobb County tea party, an event made up of people who protest taxes and government spending.

"I hope there's a very good reason. I hope it's not just to campaign for other things. I hope it's not anything a bad as well," said tea party participant Renee Smith.

Leaving office after two and a half years into a four year term is surprising to some. However Williams said it could pay off.

"I think Palin has decided running for president from Alaska won't work. She's got to be on the eastern time zone where the money is where the networks are," he said.

Williams said, looking back at history, long campaigns can fare well for candidates. Richard Nixon had a four to five year campaign and Gerald Ford also a four year campaign.

Of course, Governor Palin has not announced she's preparing for a 2012 presidential run.