Truth be told, it is not a word that is used in polite company by Spanish speakers. Its first use by English speakers was uttered by Madeleine Albright, not Sara Palin, but at the time, nobody knew what it meant. English-speaking politicians would not use its English equivalent when discussing other politicians. I think this is a reflection of the general vulgarization of our public discourse.
Are you suggesting that OUR SARAH is vulgar?