Jim Hoft grabs the zinger from Sarah Palin about Barack Obama’s “Winning the Future” speech, and it’s good — but the entire clip puts it in better context:

Well, speaking of last night, that was a tough speech to sit through and try to stomach because the president is so off base in his ideas in how it is he believes government is going to create jobs. Obviously, government growth won’t create any jobs. It’s the private sector that can create the jobs. His theme last night in the State of the Union was the WTF, you know, “Winning the Future,” and I thought OK, that acronym, spot on. There were a lot of WTF moments throughout that speech.

Specifically, Palin’s comment refers to Obama’s contention that we have to “make sure we aren’t buried under a mountain of debt.” Hello? We already are buried under $14 trillion in debt, almost equal to our entire gross national product — a place where we were heading anyway under Presidents and Congresses of both parties, but accelerated substantially in the last four years under Harry Reid, Nancy Pelosi, and Obama as both Senator and President. His proposed budget for FY2011 had a projected $1.3 trillion deficit when he submitted it, and now it’s estimated at $1.5 trillion. The W in WTF doesn’t just mean “what” but also “where,” as in where has Obama been for the last four years.

The rest of the conversation turns to solutions, which for some reason wanders into a discussion about footing a $160 million bill for defense attorneys. It’s stupid and wasteful, but it’s not what drives these deficits. Palin makes that point by discounting talk of defunding NPR and other agencies disliked by conservatives as fine but irrelevant. The only way to get out from under the mountain of debt is to completely restructure the federal government, a process that Palin emphasizes should mean returning it to its Constitutional limitations. Let the states handle their own business, Palin says, without interference from Washington DC, and they will succeed in doing so.