Madame President, she will not be. But she will do something.

Since formally suspending her campaign and endorsing Sen. Barack Obama on Saturday with a terrific speech in Washington, the subject of what Sen. Hillary Clinton will do next looms as the million dollar question.

Clinton threw her full support behind Obama, who narrowly defeated her, and has now turned his full attention to the general election.

In that fight, Hillary will almost certainly play a major role. But in what capacity is anyone’s guess. Will it be as Barack Obama’s Vice President?

So far, much of the talk has centered around whether Obama would select his former chief rival from a short list of possible running mates.

Having lost by the slimmest of margins, and commanding huge support among demographics he struggles with, Clinton has some leverage should she seek the Vice Presidency. Would Obama risk the fallout of saying no?

We think he might, despite the wave of bad publicity, as most tend to vote for the top of the ticket regardless. But no one ever asks about the reverse:

Could Hillary Clinton possibly turn down V.P. if asked?

REJECTED! Would Hillary Clinton potentially give Barack Obama the Heisman-style stiff arm should he ask her to be Vice President? Some believe she just might.

The Clintons, as we know, don’t like playing second fiddle to anyone. HRC also spent much of the past year getting out from the shadow of Bill Clinton (still a work in progress). Does she want to spend eight years as Barack Obama’s #2?

Not to mention the possibility of an Obama loss sparking another run by Clinton in 2012 - a scenario pundits have speculated about for months.

On the flip side, serving the V.P. spot, though less than ideal for her, may be her best chance she ever gets at realizing her biggest ambitions.

In the end, no one knows what Hillary is thinking, and Obama has already told Democrats to chill out and let the process take its course.

But the former First Lady certainly has her fair share of other options if she decides this run at the Oval Office was her last.

Some New York Democrats would love Gov. Hillary Clinton in 2010. The Senate Majority Leader post is also an option, should Harry Reid acquiesce.

Clinton could potentially add Supreme Court Justice to her resume, should Barack Obama assume the presidency - a lifetime appointment and perhaps the most fitting destination for a woman with such an exceptional background.

How do you think it will play out?