Governor Sarah Palin is back in Alaska as some wonder whether she could be the Republicans' answer to a devastating election.

When Palin returned to Alaska last night, she was greeted by supporters chanting "2012!" And many are wondering if her time on the campaign trail is the precursor to a presidential bid. She doesn't seem to be doing much to stop the speculation.

Asked by reporters if she might run for president, Palin said, "We'll see what happens then."

In her hometown of Wasilla, you can already buy "Palin 2012" T-shirts.

Some believe she could become her state's senator, especially with Ted Stevens' future up in the air after his conviction on felony corruption charges.