Senator John McCain today announced his decision to nominate Alaskan Governor Sarah Palin. Palin is a first term governor, a former mayor, and a mother of five (including one child with Down Syndrome and one in the military). She has a reputation as a strong fiscal conservative and a reformer. She also has a 90% approval rate in her home state, making her a very, very popular figure.

Making Governor Palin McCain’s Vice President pick is a gamble but it’s not an unreasonable gamble.

On the plus side, Palin represents a threat to Obama’s image as a sexist and may exacerbate his problem with former Clinton supporters. Secondly, those voters who vote for Obama simply to break down perceived race barriers may decide to vote for McCain’s ticket to break the glass ceiling. Again, I’m not expecting a land slide, but in this election every point is going to count. Third, Palin will appeal strongly to those attracted by Michelle Obama. She’s a hockey mom, a beauty pageant winner, and a moose hunter.

Yeah, she’s a moose hunter. Even I chuckled at that.

On the down side, in an ultimate display of irony, Obama will now try to criticize her experience. That tactic may backfire but then again, it may not. I suspect that criticisms of Palin’s experience, while they won’t hurt McCain, will ultimately serve to nullify the criticism’s of Obama’s own experience.

The other problem with Sarah Palin is that there is a minor scandal about her that has yet to fully work its way out. Apparently she may or may not have fired an official who refused to fire a police officer for personal reasons. How that will play out is entirely unknown.

If politics were a game of hold’em, I’d consider Joe Biden a fold. Obama neither gained nor lost anything with him. Sarah Palin is all in with a pair of aces before the flop. It’s a good bet, but it’s not a sure thing.