Answering a question from Twitter on Fox News on whether she'd be open to creating a "Freedom Party" with conservative radio host Mark Levin, she suggested such an option was feasible.

Palin said that if the GOP "continues to back away from the planks in our platform, from the principles that built this party of Lincoln and Reagan," Republicans with a "libertarian streak" might look to form a third party.

"I think there will be a lot of us who start saying, 'GOP, if you abandon us, well, we have nowhere else to go except to become more independent and not enlisted in a one or the other of the private majority parties that rule in our nation,'" said the former Alaska governor.

"Remember, these are private parties, and no one forces us to be enlisted in either party," Palin said of the Democratic and Republican parties.