This is pure speculation, but the fact is the Democrats do not have a very deep bench of potential presidential candidates. It basically comes down to Hillary or Biden, and I think that one is a no brainer.

The Republicans have a much deeper bench, but they have the problem of the extremists. If they go through another primary season like they did in 2010 with the likes of Cruz and Paul up there with Christie, then they are going to have a hard time beating Hillary in 2016.

That said, I predict Hillary would be a one term president either by choice or by failing to get reelected. She is in a similar position to G. H. W. Bush, who was a decent president, but who was seen as serving out Reagasn's third term. In many ways Hillary will be serving Obama's third term, doing things like cementing Obamacare, continuing unfinished business of the administration, and maybe getting an initiative or two of her own on the table.

The next big race will be 2020. Whomever emergers victorious that year could well be someone no one has heard of.