Palin also criticized Obama and the Democratic-controlled Congress for approving a $787 billion stimulus package of spending projects and tax cuts designed to jump-start the economy.
The program is not working, she said, saying it was intended to reduce unemployment, which is about 10 percent, to 8 percent.
"They're already looking at the son of stimulus," she said.
"It didn't end up stimulating anything except the two-party movement."
Palin said Obama was wrong to use federal money to bail out private companies, such as auto manufacturers.
"By and large, let the government get out of the way of the private sector," she said. "Don't bail it out if it fails."
She said was encouraged by Tuesday night's upset victory of Christine O'Donnell, whom she supported in the Delaware U.S. Senate race.
Of the 36 candidates facing contested primaries that she has endorsed, 25 have won for a win ratio of nearly 70 percent.
She called for Republicans to set aside their differences in the primaries and focus on defeating candidates of the Democratic Party, which Palin called a "weakened, leftist party."
"It is time now for unity ... and set aside the internal struggles," Palin said.
Angie LaPlante, vice chairman of the Oklahoma Republican Party, drove from Edmond to hear Palin.
She saw her speak at the 2008 Republican National Convention in St. Paul, Minn., and at the Norman book-signing, where she got to shake Palin's hand and get her to sign her book.
"I like to hear what she has to say and her take on the political arena," LaPlante said. "She's very charismatic."