The Occasional Observer

He's apparently ruled it out. From Drudge:

Bill Clinton ruled out running as HRC's VP tonight during a taping of the CBS's LATE SHOW WITH DAVID LETTERMAN, sources tell the DRUDGE REPORT.

Dave: “Now there was a discussion last week, and there is I guess a greater discussion, and there’s some confusion, and maybe I’m the only one confused about the eligibility of a man who has been elected twice as President to possibly be named later on the ticket as Vice President. Constitutionally speaking, can that happen?”

Clinton: “I don’t believe so. There are some people who believe it can, and they have contorted readings of the amendment, the 22nd Amendment. But I believe as a matter of general interpretation, you’re supposed to read all the Constitution including all the Amendments as if they were written almost on the same day at the same moment, so they’re consistent with one another. And the Constitution says the qualifications for Vice President are the same as those for President. Now you can read that to mean ‘to serve,’ not ‘to run for.’ But I just don’t believe it’s consistent with the spirit of the Constitution for someone who’s been President twice to be elected Vice President. I just don’t think it’s Constitutional. I don’t think it’s right and I wouldn’t want to do that. I’d want to do whatever I could do to be of highest and best use for her, but there are lots of wonderful people out there, including all the people that are running this time would be good Vice Presidents. And, that’s just not in the cards.”

Here's the text of the 22nd Amendment (term limits) and the 12th Amendment (selection of VP) that was mentioned by Presdient Clinton:

AMENDMENT XXII
Passed by Congress March 21, 1947. Ratified February 27, 1951.

Section 1.
No person shall be elected to the office of the President more than twice, and no person who has held the office of President, or acted as President, for more than two years of a term to which some other person was elected President shall be elected to the office of President more than once. But this Article shall not apply to any person holding the office of President when this Article was proposed by Congress, and shall not prevent any person who may be holding the office of President, or acting as President, during the term within which this Article becomes operative from holding the office of President or acting as President during the remainder of such term.

Section 2.
This article shall be inoperative unless it shall have been ratified as an amendment to the Constitution by the legislatures of three-fourths of the several States within seven years from the date of its submission to the States by the Congress.

[my emphasis]

I have to change my tune from my earlier post. I think President Clinton got this one right and he is ineligible based on the combination of the above amendment with this one:

AMENDMENT XII
Passed by Congress December 9, 1803. Ratified June 15, 1804.

Note: A portion of Article II, section 1 of the Constitution was superseded by the 12th amendment.

The Electors shall meet in their respective states and vote by ballot for President and Vice-President, one of whom, at least, shall not be an inhabitant of the same state with themselves; they shall name in their ballots the person voted for as President, and in distinct ballots the person voted for as Vice-President, and they shall make distinct lists of all persons voted for as President, and of all persons voted for as Vice-President, and of the number of votes for each, which lists they shall sign and certify, and transmit sealed to the seat of the government of the United States, directed to the President of the Senate; -- the President of the Senate shall, in the presence of the Senate and House of Representatives, open all the certificates and the votes shall then be counted; -- The person having the greatest number of votes for President, shall be the President, if such number be a majority of the whole number of Electors appointed; and if no person have such majority, then from the persons having the highest numbers not exceeding three on the list of those voted for as President, the House of Representatives shall choose immediately, by ballot, the President. But in choosing the President, the votes shall be taken by states, the representation from each state having one vote; a quorum for this purpose shall consist of a member or members from two-thirds of the states, and a majority of all the states shall be necessary to a choice. [And if the House of Representatives shall not choose a President whenever the right of choice shall devolve upon them, before the fourth day of March next following, then the Vice-President shall act as President, as in case of the death or other constitutional disability of the President. --]* The person having the greatest number of votes as Vice-President, shall be the Vice-President, if such number be a majority of the whole number of Electors appointed, and if no person have a majority, then from the two highest numbers on the list, the Senate shall choose the Vice-President; a quorum for the purpose shall consist of two-thirds of the whole number of Senators, and a majority of the whole number shall be necessary to a choice. But no person constitutionally ineligible to the office of President shall be eligible to that of Vice-President of the United States.
*Superseded by section 3 of the 20th amendment.