Time is running out for the presidential candidates, Senators John McCain and Barack Obama, to pick their Vice Presidential Candidates. It is more critical for Barack Obama than it is for John McCain for the simple fact that the Democratic Party convention is coming up in a week’s time while the Republicans have two more weeks.

At this point, both presidential candidates have a short list of potential vice presidential candidates. Some on the list are known while others are not. The short list has been arranged in order of preference. There are already first, second and third choices. What determines who is first, second or third are factors like will he or she work well with the presidential candidate, will he or she bring in the needed votes, will he or she compliment the weak points of the presidential candidates, did he or she come from a state/constituency that is at play in this election.

Because Obama would first announce his choice, McCain has the advantage of being able to factor in his decision Obama’s own choice. He can decide to choose a candidate that will nullify the advantage Obama and his Vice presidential candidate might have. He may make his choice with the hope of luring a constituency Obama’s choice might have ignored. He may also find that Obama’s choice freed him to choose anyone he likes rather than force his hands to make a choice that will counter Obama’s advantage.

The combinations and permutations that are going on now are intriguing. In the last two presidential elections, the Vice Presidential choices of Democrats, in hindsight, contributed to their loss of those two elections to George W. Bush. If Al Gore had gotten a candidate from a southern state who could win his or her state, Gore would have been president today and the world would have been a lot different. If John Kerry had gotten a candidate who could win contested states like Ohio and Florida, Kerry would have been president.

Here are some of the candidates whose names are thrown around as possible Vice presidential candidates:

For Barack Obama – Former Vice President, Al Gore, Former South Dakota Senator, Tom Daschle, Govs Tim Kaine of Virginia and Bill Richardson of New Mexico, Senator Hilary Clinton of New York, Kansas governor Kathleen Sebelius, Connecticut senator Chris Dodd, Delaware senator Joe Biden, Republican senator Chuck Hagel, Gen. Wesley Clark and Indiana Senator Evan Bayh.

For John McCain – Gov. Bobby Jindal of Louisiana, former Pennsylvania Gov. Tom Ridge, Minnesota Gov. Tim Pawlenty, Florida Gov. Charles Crist, Hewlett-Packard CEO Carly Fiorina, Independent senator Joe Lieberman, Virginia congressman Eric Cantor, former Massachusetts Gov. Mitt Romney.

In making his choice, Obama would be looking at addressing concerns about his touted inexperience in foreign policy and executive office. McCain on his part would be looking for a younger candidate who understands the economy and will settle the nerves of concerned conservative.

For each candidate, it will also help if the candidate of choice comes from a state that is at play in this election and has the proven capacity to deliver the state.

Each of the names above comes with some positives and some negatives for the two Presidential candidates. It has been hard for commentators to write off any name.

Here are two names that will not be mentioned as Vice Presidential candidates: Gov. Bill Richardson of New Mexico and Gov. Bobby Jindal of Louisiana.

Though Gov. Richardson has executive and foreign policy experiences, and also comes from the Latino community whose votes will be crucial in this election, he is out of contention because Obama, an African-American minority, cannot pick as his Vice President another member of the minority group. White America, still 71% of the population, will feel left out.

Gov. Bobby Jindal of Louisiana is young, strongly conservative and with executive experience that John McCain needs. Jindal will not be named because he comes from a state the Republicans are sure to win. He will not work well with McCain. He will also bring to the fore McCain’s old age.

For the rest, there is still the chance of being named the one to attend funeral of dead dignitaries abroad.