Former presidential candidate Romney still running — perhaps veep or White House in 2012

BOSTON — Republican Mitt Romney is still running — perhaps for vice president this fall or the White House in 2012 or 2016.

Two months after bowing out of the race, the former Massachusetts governor — and avid jogger — has become one of Sen. John McCain's biggest boosters, pledging to raise $15 million for his former rival and making the case for the likely nominee on talk shows and the campaign trail.

Romney even was traveling to Lancaster, Pa., on Thursday to campaign for McCain, who has already wrapped up the nomination and faces no serious threat in the state's April 22 primary.

"I think it is important for him to be the president, because I think he would do the critical things that have to be done, and they are reform our entitlement system, rein in government spending, rid our dependence of foreign oil, improve our education system so that our kids really can compete globally," Romney told Fox News last month.

While the two once were bitter rivals, Romney says he would be McCain's running mate — if asked.

Romney made millions as a venture capitalist and clearly can count. McCain is 71, and if he wins, would be the oldest president elected. As vice president, Romney would be in an ideal spot if McCain decides against a second term. If McCain goes the distance, the preternaturally youthful Romney would be 69 in 2016.

And if a Democrat wins in November, Romney appears certain to challenge the incumbent in four years.

Since quitting the GOP race Feb. 7, Romney has tried to preserve his political base, maintaining contact with his supporters and financial backers. He is looking at creating a political action committee so he can travel and make donations to like-minded Republican candidates. And Romney has given strong consideration to a foundation that would promote conservative ideals.

"We've talked about the creation of a new entity that would allow the governor to remain politically active past this election year," said Eric Fehrnstrom, who served as Romney's press secretary and is one of a handful of aides still on his payroll.

Questioned about another bid, Fehrnstrom said, "It's too early to predict what the future will hold."

In his first run for national office, Romney emerged as a tough challenger to McCain, outraising him while spending $47 million of his own money. He garnered 294 delegates in a sometimes bitter campaign. McCain often railed against Romney's thin foreign policy credentials while Romney made an issue of McCain's admission that economics was not his strong suit.