The New Republic argues in a staff editorial this week that Bill Richardson should drop out of the presidential contest and concentrate on becoming the Senator from New Mexico now that G.O.P. Sen. Pete Domenici has announced plans to retire at the end of his term in 2008. I couldn't disagree more. Given how well Richardson is known in New Mexico and how early the Iowa Caucuses will be, there is little harm in waiting to explore a senate bid until after January 3 or 5, when the caucuses will most likely be held. The deadline for filing his intention to run for the Senate seat is not for a month after that, which will give Richardson plenty of time to announce a decision if he does not finish high enough in the Iowa caucuses to warrant continuing his race for the presidency. But by staying in the mix until January, Richardson can accomplish two important things: 1) mobilize Hispanics and other less likely voters in Iowa to register to vote and caucus, thereby helping shift the electorate in that swing state in a bluer direction come general election time and 2) ask his supporters to throw their votes behind another candidate in those precincts where he fails to meet the viability threshold, thereby winning himself the gratitude of someone who might become the party's presidential nominee. If he plays that game right, he can still become the Senator from New Mexico, while earning some serious chits from the Democratic nominee that he can call on in his own race.
--Garance Franke-Ruta