Robert Reich's dubious prediction is that Obama will swap out Biden for Clinton:
Obama needs to stir the passions and enthusiasms of a Democratic base that’s been disillusioned with his cave-ins to regressive Republicans. Hillary Clinton on the ticket can do that. Moreover, the economy won’t be in superb shape in the months leading up to Election Day. Indeed, if the European debt crisis grows worse and if China’s economy continues to slow, there’s a better than even chance we’ll be back in a recession. Clinton would help deflect attention from the bad economy and put it on foreign policy, where she and Obama have shined. The deal would also make Clinton the obvious Democratic presidential candidate in 2016 — offering the Democrats a shot at twelve (or more) years in the White House, something the Republicans had with Ronald Reagan and the first George Bush but which the Democrats haven’t had since FDR.
The Anchoress counters that Hillary should run this year as a third party candidate. Doug Mataconis throws cold water on both ideas:
[T]he Obama Administration has consistently shot down any of the Biden-Clinton swap rumors that have come up over the past three years. Moreover, Vice-President Biden has said more than once that he intends to run with the President in 2012, while Hillary Clinton has made clear that she considers Secretary of State to be her last public job and that she has no interest in running for political office again. …
[I]t’s fairly clear that a Clinton candidacy in the General Election would take votes from Obama, possibly cost him most if not all of the battleground states that he needs to win the election, and hand the election to the Republicans. Why in the world would Hillary Clinton, who has been a loyal Democrat all her life, want to do that?
The Dish 