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“The door is still open [for her]," he said on Wednesday.
Clinton told BBC radio that "many, many, many" people want her to jump into the race – and she hasn’t ruled it out, Varney said.
“She just can’t quite walk away from it all,” he said.
“No wonder Hillary is tempted,” Varney said. “This is not good news for the Democrats.”
Last week, former New York Mayor Michael Bloomberg, former Massachusetts Mayor Duval Patrick, and former Attorney General Eric Holder all expressed interest in joining the race.
“Add them to an already crowded field and you’ve got a circus,” said Varney.
For the next debate, 10 Democrats have qualified and six others are trying to do the same.
“That’s chaos,” Varney said. “It’s a money pit. Think of all those contributions to all those candidates – money that will be spent in a frenzy of primaries and caucuses way before the real contest begins.”
And Democrats are not entering 2020 as a unified party, Varney said.
“There’s no policy consensus,” he said. “It’s dramatically split, not just two ways, but three or four.”
So will Hillary run?
Varney said if the other candidates tear themselves apart, it might just be a possibility.
“By next spring, the party is split every which way and is intellectually and financially exhausted – and in jumps Hillary to save the day,” he said. “After all, she believes she won last time around.”