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The committee, a surprise to no one, allows her to stay in the game. She can use the money to offer support to like-minded candidates and donate to their campaigns. John McCain, Mitt Romney, and Mike Huckabee have all formed their own PACs following their individual demises during the 2008 election.
Matthews said tonight that history could lend itself to a Palin nomination.
"Although there are skeptics, the pattern is clear here," he said. "When the Republicans get beat running a moderate like Nixon in 1960 or Jerry Ford in 76 or McCain in 08, the next time they tend to go right.
"Goldwater in '64, Reagan in '80, maybe Palin in '12," he continued. "That's the pattern. Maybe it'll change but maybe it won't. Keep your eye on Palin."
No, no, no. This is not about a run for higher office. At least that's what the spokespeople at SarahPAC are saying (apparently straight-faced).
Spokesperson Pam Pryor told Alaska's KTUU that this is all about helping others.
"This is not an exploratory committee," the spokesperson said. "And whether it was (Sen. Saxby) Chambliss in December, whatever, there are just a lot of requests coming in and this will kind of harness that energy. This is not about a future run for her."
As you can imagine, news of this PAC is greeted with excitement by some, loathing by others, and to comedy writers -- jubilation.
"Judging by her logo, it appears that Sarah Palin's idea of energy independence involves drilling a hole the size and shape of Alaska into the Midwest," writes Indecision's Mary Phillips-Sandy.
Wonkette states, "According to the logo, her mission will be to create an enormous Alaska-shaped lake in the Midwest, with an aqueduct to foster commerce with northern Mexico."