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WASHINGTON Two days after the 2006 midterms -- what would have been yesterday, in other words -- Iowa Gov. Tom Vilsack officially announcedhis run for the 2008 presidential election. He filed the necessary documents with the Federal Election Commission, opened an office and got up a website.

The 2016 candidates are already behind schedule.

With the 2014 midterms done, the political world is prepping for the next presidential campaign. There are likely to be some surprise candidates, some Vilsacks hoping the odds will somehow break in their favor. But there are already heavy-betting favorites, of which the heaviest is Hillary Clinton.

It's virtually certain that Clinton will run, and the Democrats' shellacking in the midterms only makes her more attractive to a demoralized party looking to unite around a star. "America needs Hillary's leadership," said an email sent Wednesday by the Ready for Hillary superPAC. She has said she willwait until the endof the year before announcing. Butsupporters arguethat she might as well jump in, since she's already under a media microscope. With a campaign structure and staff in place, she might be better equipped to respond to attacks. And why keep playing coy?

Deciding when to announce is a complicated calculation for any candidate. Clinton doesn't need to start early to be able to raise big bucks. Fundraising should come easy to her. She is already well-known in early contest states like Iowa and New Hampshire. As the front-runner from the start, she will be able to lock up experienced staff; some of Obama's team have already agreed to work for her. Her aides are reportedly considering headquartering her campaign in White Plains, N.Y.

"Those who are urging her to start running now are those who think she has to respond to every attack or allegation or question from a reporter," Democratic strategist Donna Brazile told CNN. "She does not. She has the luxury of time. She can focus on what kind of candidate she wants to be."

To develop a focus for her campaign theme, Clinton might do the kind of "listening tour" she used to kick off her Senate campaign.

Most politicians start with exploratory committees before becoming full-fledged candidates. This allows them to raise money and conduct polls without having to file disclosures or deal with the attention of launching a full campaign. But for someone like Clinton, being all-in can offer benefits like more room on spending.

At this point, Clinton has little real competition, although she isn't likely to repeat the mistakes of 2008 when she ran as "inevitable" -- until a little-known Illinois senator defeated her in Iowa. That defeat may push her to declare sooner rather than later: It would be damaging to lose Iowa yet again, and the state's caucus-goers are famous for expecting to meet all the candidates in person -- more than once -- in their living rooms and community events. She'll need to spend plenty of time there. And once candidates announce, they can begin to recruit regional captains and attend more events.

Vice President Joe Biden isn't expected to run as long as Clinton is in the race. Lesser-known Democrats will jump in, some of them hoping to boost their national profile or position themselves as a potential Clinton running mate. Maryland Gov. Martin O'Malley and Montana Gov. Brian Schweitzer have hinted they could run. Vermont Sen. Bernie Sanders has also talked about a campaign, possibly taking a page from 2012 GOP candidate Ron Paul, who had little expectation of winning but helped shape the policy discussions in the campaign.

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Presidential Election 2016: When Will Hillary Clinton Announce? Dem, GOP Candidates Who May Run