SARAH PALIN too thin for school or is it something far more roguish?

Look out Jane Fonda — there’s a budding new fitness guru in town – former Republican vice presidential candidate Sarah Palin.

Now that her political career has hit a brick wall, scary-skinny Sarah is hoping to turn an upcoming workout book into a fitness empire, which would include DVDs, workout gear, health food products and even a gym franchise, say sources.

But friends fear the 48 year old  mother of five’s extreme workout and diet regimen is threatening both her career and her health, as she’s carrying just 93 pounds on her 5-foot-5 frame.

“Sarah’s become a shadow of her former self and it’s really alarming,” a close pal told The ENQUIRER. “Her cheeks are sunken, her legs are pin-thin, and she has no hips. Her complexion looks leathery and her skin’s hanging off her bones. She’s even developed a turkey neck!”

According to the friend, the tea party favorite hatched a plan to launch her own fitness brand after realizing her $3 million Fox News contract as a political commentator probably won’t be renewed.

“Not that long ago, Sarah would NEVER have considered doing something like this,” said the pal. “She was hoping to parlay her brief political ascension into a long-range career as a pundit and power broker.

“Now Sarah’ desperate to stay in the limelight and make money any way she can.”

Palin recently told a reporter her book will focus on maintaining a balance between exercise and eating the comfort foods her family loves – like her moose chili!

The big problem, says the pal, is that Sarah just doesn’t look that healthy right now.

“It’s sad,” noted the pal. “Sarah’s dreams of a fitness empire will never become a reality if she stays a stick figure.”