John Edwards, former vice presidential nominee, has removed all doubt and declared to his team that he will indeed be a presidential candidate in 2008. The decision comes on the heels of another candidate, Senator Evan Bayh, announcing that he is bowing out. Bayh concluded that he could not compete with front-runners Barack Obama of Illinois and pro-war Hillary Clinton of New York. Edwards, a former North Carolina senator, has decided that he can, and is planning to announce his candidacy between Christmas and New Years in New Orleans. Edwards’ choice of location will emphasize the need for progressive economic policies, favoring unity over inequality.

Clinton and Obama have become favorites much earlier than was the case in previous campaigns. However, Democratic strategist Stephanie Cuter thinks another candidate may have the chance to compete with them. “There’s room for one more. The question is: Who is it right now? And I don’t think anybody can tell you with any real certainty of who that could be.” Edwards’ spokesman would not confirm or deny Edwards’ plans to run.

Edwards will need to run an aggressive fundraising campaign just to compete. Because he does not currently hold office, he doesn’t have the war chest that his rivals do. In fact, Edwards is several hundred thousands dollars in debt from his failed 2004 presidential campaign. Speaking of the shameful link between money and politics, Steve Elmendorf, a top adviser to Dick Gephardt and John Kerry’s 2004 presidential bids, said Edwards may have a shot if he can continue to hold the lead in Iowa. “The hardest part for anybody is to figure out ‘how do I get $30 to 40 million,’” he said. “It’s daunting for anybody. I think Mrs. Clinton and Obama can do it, but I have real questions if any one else can do it.”

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