Bob McDonnell to New Hampshire; Cue the Mandatory Speculation

After a 17-point general election win in November 2009, expectations were high for Virginia Gov. Bob McDonnell -- both as the state's chief executive and as a party star.

While McDonnell has been somewhat overshadowed by that other 2009 gubernatorial winner -- New Jersey's Chris Christie -- he still enjoys a 63 percent approval rating in the commonwealth and has remained a top "get" for campaigns as he helps raise money and boosts candidates across the country.

In fact, McDonnell's team estimates that he has helped raise $2.5 million for GOP candidates across the nation.

This week, McDonnell heads to the early presidential primary states on a campaign swing with the head of the Republican Governors Association, Mississippi Gov. Haley Barbour. Wednesday, McDonnell (along with Barbour and Louisiana Gov. Bobby Jindal) planned to travel to Iowa (until a storm diverted them to Wisconsin). Thursday, he is scheduled to be in New Hampshire, along with Barbour.

This, of course, raises speculation that McDonnell might be considering a run for president. But while such trips always spur speculation, it's unlikely McDonnell would take the plunge in 2012. This is primarily because by the time of the first presidential caucus in January of that year, McDonnell will still only be two years into his term as governor.

So, what is he up to? Limited to a single term as head of his state, could his heavy campaigning and travel be laying the groundwork for other elective offices? At this point, his possibilities seem pretty wide open. I wouldn't be surprised to see McDonnell run for RGA chairman, the U.S. Senate, or even be on the short list as a possible vice presidential pick.

In any case, McDonnell's team is being coy about his ambitions: "The governor is writing a compelling success story in Virginia," says Phil Cox, a senior McDonnell adviser. "It stands to reason that more people will want to hear that story in the years ahead."