An interesting possibility was raised today by Kenneth T. Walsh at US News, where he expounds on a theory making the rounds at liberal cocktail parties in Washington that Obama may dump Biden prior to the 2012 election and potentially replace him with Hillary Clinton:
Elevating Clinton to the vice presidential slot would accomplish several objectives: It would appeal to female voters and the still-powerful cadre of Clinton admirers, give Obama more of a pragmatic luster, and shunt the gaffe-prone Biden aside. And it would theoretically discourage Clinton, a former senator from New York, from challenging Obama in the 2012 primaries, Democratic insiders say, because as vice president she would be considered Obama's heir for 2016. Clinton would be 69 that year, the same age as Ronald Reagan when he won the presidency in 1980.
Offering the VP spot to Clinton would be a stroke of genius for Obama, but with Clinton already hinting at being a short-timer in her current role, my guess is that she'd be much more interested in taking this clueless and elitist rookie out to the woodshed for a lesson or two. Just think of the platform she could run on. She could bring up the same concerns she did during the primaries – except this time, three years of Obama incompetence and failed policies would validate every single one of them.
The only way that Clinton would jump into the race and challenge Obama though would be if he was so far gone that she had an excellent chance of beating him. I hinted at that possibility months ago and with Obama hunkered down and continuing to pursue unpopular policies and ignoring the electorate's fears of exploding deficits and national debt, Obama may be so far underwater come election season, Democrats may want Clinton to challenge him in the primaries. That might be the only way to attract independents back to the left and the best chance to keep the Democratic Party in place at the top.
Or she could run as an independent and really throw a wrench in the thing.
Regardless, the fact that those on the left are even talking about this is all you need to know about how well Obama is doing as president. The recent failed elections in VA, NJ and MA were referendums on detested liberal policies, and the belief from the far left that Americans are now just too stupid to understand the benefits of these policies is just going to fuel the anger that resulted in those election losses for Democrats.