Obama campaign spokesman Bill Burton:

Today, John McCain put the former mayor of a town of 9,000 with zero foreign policy experience a heartbeat away from the presidency. Governor Palin shares John McCain's commitment to overturning Roe v. Wade, the agenda of Big Oil and continuing George Bush's failed economic policies -- that's not the change we need, it's just more of the same.

McCain campaign spokesperson Jill Hazelbaker:

It is pretty audacious for the Obama campaign to say that Governor Palin is not qualified to be Vice President. She has a record of accomplishment that Senator Obama simply cannot match. Governor Palin has spent her time in office shaking up government in Alaska and actually achieving results -- whether it's taking on corruption, passing ethics reform or stopping wasteful spending and the 'bridge to nowhere.' Senator Obama has spent his time in office running for President.

And McCain senior advisor Nancy Pfotenhauer just said on Fox - and I'm paraphrasing: I think the Obama campaign would have learned not to belittle women.

Fasten your seat belts. We're in for a very bumpy ride.

Question: What is Hillary going to say?

Here's the official release from the McCain campaign:

JOHN MCCAIN SELECTS ALASKA GOVERNOR SARAH PALIN AS VICE PRESIDENTIAL RUNNING MATE

For Immediate Release

Contact: Press Office

Friday, August 29, 2008

703-650-5550

ARLINGTON, VA -- U.S. Senator John McCain today announced that he has selected Alaska Governor Sarah Palin to be his running mate and to serve as his vice president.

Governor Palin is a tough executive who has demonstrated during her time in office that she is ready to be president. She has brought Republicans and Democrats together within her Administration and has a record of delivering on the change and reform that we need in Washington.

Governor Palin has challenged the influence of the big oil companies while fighting for the development of new energy resources. She leads a state that matters to every one of us -- Alaska has significant energy resources and she has been a leader in the fight to make America energy independent.

In Alaska, Governor Palin challenged a corrupt system and passed a landmark ethics reform bill. She has actually used her veto and cut budgetary spending. She put a stop to the "bridge to nowhere" that would have cost taxpayers $400 million dollars.

As the head of Alaska's National Guard and as the mother of a soldier herself, Governor Palin understands what it takes to lead our nation and she understands the importance of supporting our troops.

Governor Palin has the record of reform and bipartisanship that others can only speak of. Her experience in shaking up the status quo is exactly what is needed in Washington today.

According to a news release from the station, Democratic Congressman Jim Clyburn of South Carolina attacked Sarah Palin on South Carolina ETV Radio this morning, comparing her unfavorably to both Dan Quayle and Geraldine Ferraro:

"I do believe that McCain has to do something to reshuffle the cards, shake up the establishment, do something unexpected and Governor Palin...has all the kinds of things that McCain might see as a way to shake things up. I think (her selection) would be something similar to Dan Quayle...Dan Quayle proved to be sort of an embarrassment as a campaigner. Being thrust on a national stage like that could be very tough. Now Mondale tried to shake things up by going with Geraldine Ferraro...she proved to be a disaster as a running mate. And as a campaigner, she was absolutely awful. And so I just think that it is very risky for McCain to do this, but it may be all he has left."

Also, Democratic Senator Ken Salazar, reacting on CNN just a few minutes ago tried to portray the Palin pick as impulsive and risky. Salazar said the fact that McCain picked someone no one has ever heard of before this morning shows the "kind of judgment he'd bring to the White House."

All indications are McCain's running mate will be Alaska Governor Sarah Palin. If so, I think it is a superbly handled rollout and, politically, a brilliant pick.

Mona Charen points out this bit from Sarah Palin's bio on Wikipedia:

On September 11, 2007, the Palins' son Track joined the Army. Eighteen years old at the time, he is the eldest of Palin's five children.[10] Track now serves in an infantry brigade and will be deployed to Iraq in September. She also has three daughters: Bristol, 17, Willow, 13, and Piper, 7.[11] On April 18, 2008, Palin gave birth to her second son, Trig Paxson Van Palin, who has Down syndrome.[12] She returned to the office three days after giving birth.[13] Palin refused to let the results of prenatal genetic testing change her decision to have the baby. "I'm looking at him right now, and I see perfection," Palin said. "Yeah, he has an extra chromosome. I keep thinking, in our world, what is normal and what is perfect?"[13]

Via CNBC:

Alaska Gov. Sarah Palin, a self-styled "hockey mom" who has only been governor for a little over a year, is GOP Presidential candidate John McCain's choice for Vice President, CNBC has learned.

Before the stadium filled up last night, workers made sure every seat had an Americans flag at the ready.

Obama speech reactions will abound on the web today. Many loved it; others were more lukewarm. Some of the latter observations? Here's Ross Douthat:

There was a lot of liberal boilerplate (recruit an army of teachers, tax the rich, etc.) that could have fit easily into any Democratic acceptance speech of the last twenty years; there was a series of swings at John McCain that, while often effective, seemed more appropriate to a veep's speech than to an address by a Presidential nominee; and then there was a half-hearted attempt to return, in the speech's final third, to the themes of post-partisanship and national unity that defined his '04 convention speech. The whole thing felt schizophrenic - part Clintonian laundry-list, part McCain-bashing polemic, part "beyond red and blue" peroration - and watching it I was left with the impression that Obama would have been better off just sticking with the high-flown inspirational style that got him here, and waiting for the debates to recast himself as the meat-and-potatoes guy who can throw a punch and get down into the policy weeds.

And Mickey Kaus, in "Mile High Letdown":

Why the slow, angsty movie-music at the end? I thought someone in the Politburo had died.

While parts of the speech were strong--and the DNC-produced biographical video was a home run--the thing that struck me most, watching from home, was the difference between this speech and the one that catapulted Obama into the national eye in 2004. That speech was largely positive. This one was largely negative, particularly its "America is going to hell in a handbasket" opening. Is this what it takes in a hard-hitting presidential campaign? Maybe. Will it ultimately sell? The 84,000 who hit Invesco field make a case that it might.

But it will be interesting to see what themes McCain runs with next week in Minnesota--especially if the crusty war veteran throws around more rainbows and sunshine than the guy who's built his brand on "hope" and fresh political change.

It was a remarkable scene last night. The mood of the crowd, the stagecraft, the pageantry and the sheer enormity of the stadium made the evening feel like a cross between Lollapalooza, The Oscars, and the closing ceremonies of the Beijing Olympics.

Obama's speech was brilliant: well crafted and well delivered, touching on all the right notes. All that was expected, of course, and Obama delivered in spades. He got somewhat specific at times, deftly portrayed McCain as out of touch on the economy, put up his dukes on national security, and finished with an emotional flourish that drew on the history of the moment.

He made one mistake, though. His line knocking McCain for not following Osama bin Laden to his cave struck me as flippant and unnecessary. Though the crowd got a kick out of it, my sense is that that line that opened the door for Republicans and it will come back to haunt the Junior Senator from Illinois.

Whether the speech connected with the voters he needs to connect with around the country, we'll have to wait and see. This much is for certain: Obama is the muse of the liberal wing of the Democratic party. He moves them in a way no candidate has in two generations.

Yet, as the massive crowd inside the stadium testified, Obama's appeal reaches well beyond hardcore Democrats. It was no small feat to get inside Invesco field yesterday: a mile trek on foot, an hour or more wait in line in the hot afternoon sun. Yet people of all shapes, sizes, colors, and ages made the pilgrimage and filled the seats for the chance to see Obama accept the Democratic party's nomination for President - and he did not disappoint.

Mitt Romney, Tim Pawlenty and Mike Huckabee are all out of the veepstakes as of this morning. Meanwhile, Sarah Palin: Where is she? The details in the VP Watch blog.