She *did* explain. You didn't hear it.
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I watched the entire speech. She rambled on about a bunch of things but made no definitive statement that gave a clear reason.
Trying to 'spare' the people of Alaska 18 months of a lame-duck is smoke. If it were the 'right' thing to do then every governor who is facing term limits should leave office with a year and a half to go.
Arguing that she wants to save the people to whom she gave her oath the expense of having a governor who spends her time (and their money) on political junkets is bull. There is no law that forces any late-term governor to travel and many do not, they stay and do the job.
All you who thought that Sarah was the party's saviour seem to be having a hard time dealing with her inexplicable behavior. It's easy, she bailed out on the people who elected her. She has not given an adequate or clear reason. Look for another saviour, this one has clay feet.