But the former Alaska governor, speaking to "Fox News Sunday" from Arizona, said she has not decided on running and was "still trying figure out what the lay of the land will be."
Criticizing President Barack Obama's economic policies, Palin said, "It's very noble of President Obama to want to stay at the helm and maybe go down with this sinking ship. [But] we don't have to go the way of the Titanic."
"What President Palin would do," she said, "is cut the federal budget, making sure that we're not crowding out private sector investment. We will cut that spending. We have no choice. We're going broke."
She called for "unleashing our domestic energy production opportunities. It does come down to 'drill, baby, drill,' in addition to an 'all of the above' energy policy that really is non-existent in the Obama administration."
Palin also opposed raising the federal debt ceiling, saying "I don't believe [Treasury Secretary] Tim Geithner as he cries wolf for the fourth time now, telling us that there is a drop-dead date and crisis will ensue."
Palin endorsed the Medicare proposals of Rep. Paul Ryan, R-Wis., opposed the intervention in Libya and urged a faster withdrawal from Afghanistan.
2014: The Year in Music [PHOTOS]