With the Democratic race all but sewn up, if Barack Obama hasn’t begun the search for a Vice President yet, the process will be underway soon.

In fact, a Democratic activist says that Jim Johnson, a former Fannie Mae CEO who helped screen prospective VPs in both 1984 and 2004, has accepted Obama’s request to begin the selection process for the No. 2 spot.

We have no way of knowing for sure who’s in the running, but we have some ideas. Leave us a comment and let us know what you think of these choices for Vice President - or if we’ve left off someone you think is worthy.

Who will - or should - Barack Obama choose as his Vice President?

New York Sen. Hillary Rodham Clinton

Pros: Tenacious. Seen it all, done it all. Talk of “dream ticket” still resonates with many voters who have invested heavily in this contentious campaign.
Cons: As divisive as they get, plus there’s some hostility from Obama’s camp. When you suggest that your opponent is unprepared to lead, that’s to be expected. Also, Michelle Obama is not a fan of the idea.

New Mexico Gov. Bill Richardson

Pros: Has major Cabinet-level and national security experience. Governor of a critical state. Member of key demographic group — Hispanics. His huge endorsement during Rev. Wright mess gave Obama a boost.
Cons: Bill Richardson can be an uneven campaigner, doubts about his ‘00 and ‘04 V.P. vetting linger - and putting an African-American and Mexican-American on the ticket at the same time might (sadly) give pause to some.

Pennsylvania Gov. Ed Rendell

Pros: This could be the one. A popular figure in a key state, he helped deliver Pennsylvania for Hillary Clinton. A plausible president, and a smart, tough and respected party Democrat not tied to any particular constituency. Would embrace Obama loyally and undoubtedly help the ticket.
Cons: Little national security experience.

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The chances of Sen. Chuck Hagel joining New York Mayor Michael Bloomberg on an independent presidential ticket seem to be dimming, with Bloomberg distancing himself from the Nebraska Republican on Monday.

The New York Times reported Saturday about a talk one of its reporters had last week with Hagel, during which Hagel said he had spoken with Bloomberg in the past about possibly being the billionaire’s running mate.

The story contained no quotes, but paraphrased Hagel as saying the rise of John McCain - popular with independents and moderates - as the GOP nominee closes Bloomberg’s window of opportunity to jump in the race.

The Press of Atlantic City concurs that Bloomberg’s chances would improve if the Republicans were to nominate a far-right candidate - a description that does not fit McCain - and the Democrats, one from the far left.

Michael Bloomberg continues to deny a run for the White House.

While Barack Obama is considered farther left than Hillary Clinton - he was judged to have the most liberal voting record in the Senate last year by the National Journal - he is by far a less divisive figure than she.

Asked Monday about Chuck Hagel’s claim that the two discussed running on a ticket, Bloomberg flatly denied that any such conversation took place, and portrayed his relationship with the senator as a distant one.

“I have met him a couple of times … and I never talked to him about being the candidate, and not about who, if I were to run, which I’m not, who you would pick,” Michael Bloomberg said. “We never had that conversation.”

Bloomberg-Hagel speculation began last May when they shared a not very secret dinner in Washington. Then, Hagel said in a television interview that it was time for a third-party candidacy to shake things up.

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Who’s hot? Who’s not? Who’s personal life just keeps getting more interesting, and who can’t buy media coverage to save their life? The 2008 election may be 18 months away, but the race is in on. We’ve assessed the Democratic candidates and now, for the first time, we’re moving on to the even more wide open GOP field…

1. Rudy Giuliani, former New York City Mayor

The negative stories are beginning to flow, ladies and gentlemen, but his numbers stay high. Either the public simply doesn’t care about Rudy’s… shall we say, interesting personal life or they’re not paying attention.

One thing’s for sure: Every week Rudy Giuliani maintains a huge lead on John McCain makes it seem like a victory is a given and makes it tougher for anyone else to raise money against him. When’s he going to Iowa, though? Shouldn’t someone at his campaign HQ get on that?

2. John McCain, Arizona Senator

John McCain has a long way to go (though his NCAA picks weren’t as bad as we predicted). Something about his efforts so far seems forced, uninspiring. Of course, he’s still much more of an establishment candidate than the guy ahead of him, even if the GOP base is bored with him (the 2003 version of McCain would be a lock today). Still, he has a lot of things going for him, and a strong first debate effort against Giuliani could close the current gap considerably.

3. Mitt Romney, former Massachusetts Governor

The Mitt Romney campaign is somewhat of an enigma. Raising tons of money, scoring allies all over the place to back him, yet not gaining much in the way of traction among mainstream GOP voters. It all comes down to whether he can win New Hampshire and make it to February 5.

4. Tommy Thompson, former Wisconsin Governor

The man’s strategy is a good one. Focus all efforts on Iowa and try to win that first caucus, becoming the popular, mid-American alternative to the three frontrunners. Hey, it’s good enough for fourth in our rankings - but can he raise enough cash to make it happen? That;s another story.

5. Fred Dalton Thompson, former Tennessee Senator

Not sure what it says about the rest of the folks in this race that Fred Thompson merely mulling a run has him comfortably in contention for the Republican nomination. There’s already a sizable movement to draft him (see below). We still think an all-Law & Order, Sam Waterston-Thompson ticket would be tough to beat.

6. Sam Brownback, Kansas Senator

Any talk about Fred Thompson or Newt Gingrich kills Sam Brownback. Not that we’re complaining. With this twit, less is more. And with another Thompson (Tommy) now going full-bore in Iowa as well, the Brownback campaign could come to a screeching halt really fast.

7. Duncan Hunter, California Congressman

An enormously popular U.S. Representative who has served California’s 52nd district with distinction for 26 years. That will be it, though. He just can’t get traction in this race.

8. Mike Huckabee, former Arkansas Governor

A decent guy having trouble getting noticed in a large field. Guess America isn’t ready for another Arkansas governor (from Hope, believe it or not) in the White House. Either that or America just doesn’t heart Huckabees. Too much? Okay, sorry. Moving on.

9. Jim Gilmore, former Virginia Governor

We’re guessing his days are numbered. A hunch.

10. Tom Tancredo, Colorado Congressman

No matter how much it riles up some Republicans, immigration alone isn’t enough of an issue to get you noticed in a national campaign.

11. Ron Paul, Texas Congressman

Two first names. Always the kiss of death. That and never having renounced one’s membership in the Libertarian Party.

UNRANKED: Newt Gingrich, Chuck Hagel (although a sudden entry into the race from either means a berth in our top five).

Why not Chuck Hagel?

Or for that matter, Fred Thompson?

The Republican field in the 2008 election is shaping up to be nothing short of fascinating. Such things happen when a political party struggles over its entire philosophical direction.

Old school conservatism is in crisis, Bush Republicanism (George W. Bush, not his father) is tainted, and no candidate has emerged as the solution the GOP wants.

That’s why Hagel, the Nebraska senator and Iraq war critic, said Monday he might seek the presidency.

It’s why Thompson, the actor and former senator from Tennessee, said he is “giving some thought” to getting in the race.

Despite a somewhat silly announcement to say he’s not announcing for the race (a maneuver good-heartedly chided by friend and Democratic candidate Chris Dodd), Hagel was onto something when he spoke of the country “experiencing a political reorientation.”

He even hinted that he might seek the White House as an independent, saying “This movement is bigger than both parties.”

These appearances by Hagel and Thompson, along with the lingering presence of Newt Gingrich, may mean bad news for former New York Mayor Rudy Giuliani, the front-runner in the polls.

Giuliani’s strength is as a remainder candidate, drawing support from Republicans who can’t bring themselves to back the previous front-runner, Sen. John McCain of Arizona, or former Massachusetts Gov. Mitt Romney, who has GOP establishment support but hasn’t made the sale because of exorbitant amounts of flip-flopping.

This should be an opening for a conservative dark horse, like former Gov. Mike Huckabee (Arkansas) or Sen. Sam Brownback (Kansas), but they have been unable to fill the void on the right.

Perhaps because even the most traditionalist conservatives reluctantly and quietly sense, as Hagel openly does, that the old formula isn’t working.

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We’re well aware of how crowded the field of 2008 Democratic candidates is. What’s amazing is that in the coming months, a growing list of Republican hopefuls may put it to shame.

The fact that the 2008 election is shaping up as the most wide-open race in almost a century has everybody crawling out of the woodwork and clamoring for attention.

Among those who may decide on a White House bid is Nebraska Sen. Chuck Hagel, although he said at a news conference today that he is putting off his decision on his political future until later this year so he can focus on the war in Iraq (which he stands opposed to) and other pressing issues before Congress.

Many expected Hagel to announce his bid today. But Hagel said he could still join the field later in the year, stating:

“I admire [each candidate] for their willingness to put themselves on the line and pursue their beliefs and ideals. I believe the political currents in America are more unpredictable today than at any time in modern history.”

Hagel is one of the most aggressive Republican critics of George W. Bush’s handling of the war in Iraq, a quagmire that has meant the downfall of the administration in some respects, and is hampering the candidacy of one-time 2008 front-runner John McCain, a staunch supporter of the invasion.

In addition to Hagel, former Tennessee Senator and current Law & Order star Fred Thompson is considering a presidential run next year.

Thompson (pictured above) told Fox News that he is leaving the door open to joining the Republican presidential field later in the year.

“I’m going to wait and see how it pans out, how they do, how it develops. A lot of people think it is late already. I do not really think it is, although the rules of the game have changed somewhat,” he said.

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Will yet another anti-war candidate from the United States Senate enter the 2008 presidential race?

And a Republican, no less?

It’s looking increasingly likely. Sen. Chuck Hagel (R-Nebraska) is planning to announce his decision on the presidential race Monday in his home state of Nebraska, CNN reports.

The two-term senator ’s intentions are still unknown, but he said in January he would make a decision about a run soon.

The 60-year-old also is set to appear next week at a forum for presidential hopefuls put on by the International Association of Firefighters.

Hagel, like Senate counterparts and presidential candidates Hillary Clinton, John McCain and Chris Dodd (as well as former senator John Edwards) supported the 2002 resolution authorizing the invasion of Iraq, but has since done an about-face and become an outspoken critic of the war.

He called President George W. Bush’s plan to increase U.S. troops in Iraq “the most dangerous foreign policy blunder in this country since Vietnam.”

Hagel, himself a decorated Vietnam veteran, was one of seven Republicans to back a non-binding resolution last month opposing the troop increase, a measure that failed on a procedural vote.

In a newly published interview in Esquire magazine, Hagel said Bush appears to believe he’s no longer accountable.

“[That] isn’t totally true,” Hagel said. “You can impeach him, and before this is over, you might see calls for his impeachment. I don’t know. It depends how this goes.”

Strong words. But aside from his stance on Iraq, Hagel is a rank-and-file GOP stalwart. He supported the Bush tax cuts in 2001, has a “perfect” score on abortion issues from pro-life groups and backs efforts to open the Arctic National Wildlife Refuge to oil exploration.

Yeah. Not exactly the maverick, independent voice we’re hoping for. But then again, neither is McCain - and he actually relishes his image as one.

If he does enter the race, Hagel would undoubtedly face an uphill battle in the GOP primaries against the likes of McCain, former New York Mayor Rudy Giuliani and former Massachusetts Governor Mitt Romney.

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Sen. Chuck Hagel, a possible White House hopeful in 2008, says we shouldn’t consider him an anti-war candidate if he does run.

The Nebraska Republican and Vietnam veteran has criticized George W. Bush’s troop increase plan in Iraq as “the most dangerous foreign policy blunder in this country since Vietnam.”

Harsh words, and Hagel is one of five GOP senators to back a resolution by fellow Sen. John Warner (R-Va.), that would put the Senate on record as opposing Bush’s plan.

“Every member of the Congress should be engaged here and their people that they represent should know where they stand,” Hagel said.

“If they want to continue to send young men and women to fight and die in Iraq, then they should step forward and explain that position and why. If they don’t, explain that.”

Yet Hagel insists he shouldn’t be considered an anti-war candidate if he were to enter the 2008 presidential race.

“To have a different position than the president’s on a war doesn’t qualify anyone to be an anti-war candidate,” he said.

As for 2008, Hagel said he will make that decision as time develops. His opposition to the troop increase puts him at odds with leading Republican candidates, such as John McCain. On the flip side, it more closely echoes frustrations expressed by the American people. Would his position on the war hurt him in primaries but help in a general election?