[Virginia Ridgerunner]

It's a Political Action Committee, a private 501 c(3) organization (outside of the government, per ethics rules) that publicly supports a specific set of goals and values as expressed by a candidate or potential candidate.

In more practical terms, a PAC is a legal funding mechanism for a potential candidate and the first step toward running for higher office.

By launching this PAC, Governor Palin is signaling that she is in the 2012/2016 game for sure now.

[DieHard the Hunter]

Thanks for that! It makes eminent sense for her to get started early if she is going to win in 2012.