The four weeks of the nascent 2008 Presidential campaign has so far seen more exits than entries, with such predicted contenders as George Allen, Russ Feingold, and Bill Frist opting out (well, in Allen's case, it wasn't so much an "option" as the cold, hard sting of reality slapping his face) already. Others like John McCain and Rudy Guiliani are "exploring" the possibility - which means, in terms of federal election law, they can raise money and travel about without formally declaring a candidacy and complying with all the legal strictures thereof. But at last someone is brave enough to jump in with both feet - Governor Tom Vilsack of Iowa. Kay Henderson of Reuters has the story:

Gov. Tom Vilsack of Iowa on Thursday launched an underdog bid for the White House, promising to restore America's sense of community and optimism as he became the first Democrat to declare for the 2008 race.

Standing in the southeast Iowa town where he began his political career as mayor, Vilsack accused President George W. Bush of exploiting Americans' fears for partisan gain and robbing the country of its "can-do spirit."

"Our country needs bold leadership guided by the right values and the right experience. That is why I am here today," said Vilsack, a two-term governor who is leaving office to concentrate on his bid.

"I am running for president to replace the anxiety of today with the hope of tomorrow and to guarantee every American their birthright -- opportunity," he said.

Read the whole story at the above link. Vilsack is a long shot, at best, but his entry does create an interesting dynamic on the Democratic side. As Governor of Iowa, he would seem to have an edge with the Iowa caucuses still the opening salvo in the primary campaign. However, this will likely be turned to the advantage of his competitors.

In 1992, for example, Sen. Tom Harkin of Iowa declared his candidacy, and the others seized the opportunity to "defer to the Favorite Son" candidate and ignore Iowa altogether! This saves potential candidates like Hilarity! Clinton, Barack Obama, and Bill Richardson from bothering with the huge investments of money and time there - which they could hardly avoid in most campaigns because of the media emphasis. Their attention and resources can be turned immediately to New Hampshire and South Carolina without risking much.

On the other hand, potential contenders such as John Edwards and John Kerry, who have already spent plenty of time and cash building their Iowa organizations, are set up for a major fall now. While they might try to claim a second place finish as some sort of "moral victory," the fact remains they both will have been organizing Iowa for FIVE YEARS by the time of the 2008 Caucuses. Vilsack's entry has raised the stakes for both of the 2004 standard-bearers.

And it very well might be a mistake to dismiss Vilsack's chances out of hand. If Clinton's war chest and name recognition flushes most marginal candidates from the field, as expected, Vilsack has a chance of being the one remaining "anti-Hillary" choice.

Remember, after the 1974 midterms, almost no one outside of Georgia had ever heard of Jimmy Carter, either.