Mark Whittington reads the TEA leaves:
Rumors have suggested Palin would announce her intentions for a run for the presidency in late August or early September. She had also indicated planned bus trips in the Midwest, including Iowa, and the South, including South Carolina, an important early primary state. The speech in Waukee might be tied into an Iowa-centered bus trip. It might even be the event where she announces whether or not she will run for president.- JP
Palin is moving up in some of the polls, usually placing second or third in Republican primary matchups. A new Harris poll shows her just eight points behind President Obama, suggesting she is now in striking distance of the president about 15 months before the general election.
Certainly Palin's presence at a Tea Party rally will attract thousands, if not tens of thousands, of people, as well as heavy media coverage. The obvious thing would be to announce for president at the rally. Of course, Palin never does the obvious thing.
The debt ceiling crisis will not likely be solved with any great satisfaction for most people, even if a default is averted. The open wrangling and posturing of politicians in Washington, especially President Obama, will fit in perfectly with Palin's likely theme of an outsider riding into Washington to clean up the mess and begin reforming the government.