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There have been a number of instances in the last six years that Cheney has made executive decisions never seen before in another Vice President. It's not clear to me whether Cheney has assumed the position of the President, or that Bush has willingly ceded the responsibility.
I think the key question is whether Bush would abandon Cheney, if he proved to be a liability to the presidency, much like he refused to replace Rumsfeld. The chattering classes have been speculating that Cheney will resign due to "health" issues and that his replacement would be promoted as the next presidential candidate for 2008. A recent comment by the administration that there would be no formal backing of a Republican presidential candidate may add a bit of weight to the speculation.
There has also been quite a bit of speculation that #41 and his seasoned previous staff have intervened in the direction that #43 has been going. I think that drove the resignation of Rumsfeld, and there may also be a concerted effort to remove Cheney. As Cheney's political and legal problems increase, so will Bush's willingness to allow him to "retire."
Given that all this drama is going on in the background, I am at a loss as to who the administration would choose for a VP with presidential appeal. I think Lieberman may have hopes of this kind given his alignment with Bush, but I think he is deluded. McKain is now despised by many moderates and independents (myself included) that were impressed with him in the past. Guilianni is popular now, but he will not stand up to close scrutiny by the Republican base.
Is there a wild card out there that I haven't considered?
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"You can't ignore politics, no matter how much you'd like to." Molly Ivins - 1944-2007
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