Timing is everything, so it’s no wonder Hillary Clinton is thinking hard about when she wants to go from being an informal candidate for president to a formal candidate for president. But one challenge she’s facing is that it may already be too late to adjust the calculus. The news that she is considering delaying her announcement shows why that is.

Politico broke the news this morning that Clinton, seeing no reason to jump in the race just yet, may wait until this summer, some time around July, to announce. It’s not surprising, since the previous times she was expected to announce have come and gone. She’s in a bit of a holding pattern right now; she could announce at any time, and so she never does. But now that she’s far enough into the prospective campaign, her decisions can’t really be made so quietly. To paraphrase the band Rush, if she chooses not to decide she still has made a choice.

The reason for her not to delay her announcement, in fact, is right there in the justification for it. To wit:

Hillary Clinton, expecting no major challenge for the Democratic nomination, is strongly considering delaying the formal launch of her presidential campaign until July, three months later than originally planned, top Democrats tell POLITICO.

The delay from the original April target would give her more time to develop her message, policy and organization, without the chaos and spotlight of a public campaign.

A Democrat familiar with Clinton’s thinking said: “She doesn’t feel under any pressure, and they see no primary challenge on the horizon. If you have the luxury of time, you take it.”

Advisers said the biggest reason for the delay is simple: She feels no rush.

“She doesn’t want to feel pressured by the press to do something before she’s ready,” one adviser said. “She’s better off as a noncandidate. Why not wait?”

There are two reasons here for her to delay her candidacy. One of them is correct but carries too much risk in acknowledging its truth. The other is probably wrong.

Take the first reason: she’s “expecting no major challenge for the Democratic nomination.” Unless Elizabeth Warren runs, which doesn’t seem all that likely right now, this is true. And the way you know it’s true is that it’s virtually impossible to claim any of the other candidates poses a threat to Clinton with a straight face.

Go ahead and try it: tell yourself that Martin O’Malley, or Jerry “Moonbeam” Brown, or self-described socialist Bernie Sanders, or Crazy Uncle Joe Biden stands in the way of Hillary’s coronation. It’s laughable.

But here’s the catch: Hillary can’t say that. The weak non-Hillary field has become part of the narrative of the election. So saying that she’s delaying her candidacy becomes a statement that she can afford to delay her candidacy because her opposition is a collective joke.

This could easily backfire. It could encourage someone else to jump in the race after Hillary does, on the theory that Clinton miscalculated. It could also breed resentment toward her for acting “inevitable.” And it’s possible it would spook the national party into remembering that when Hillary says she’s inevitable, she might actually be trying to paper over weaknesses that would emerge in the general election instead of in the primaries.

There is no surer way for Hillary to cement her reputation as an entitled legacy candidate and elitist with royal self-regard than to declare the field unworthy of her entrance until the crown has been fitted and polished. Even if it doesn’t attract additional candidates, it’s not a storyline she wants to help along.

The second reason was summed up by her advisor: “She’s better off as a noncandidate. Why not wait?”

But is she? I don’t think so. We’re living in a very different media universe even from the last time she ran. Case in point: the New York Times put a reporter on the Clinton beat in the summer of 2013. Soon after the move was made, Times public editor Margaret Sullivan noted that “Mrs. Clinton may consider her future up in the air, but The Times apparently does not. Or at least it’s hedging its bets.”

It was a smart move by the Times, and Chozick’s reporting has rewarded their bet on Clinton’s candidacy.

Certainly, the types of stories that get filed on Hillary from around the political press are different from the ones that would be filed were Hillary officially in the race. But they aren’t benefiting her. Clinton’s gaffes get covered now, and any policy debate allows her to work off the rust ahead of time.

Also, as I noted in December when the press was on her case over her speaking fees, we were going to get some ridiculous and unfair stories because reporters needed copy. Does Hillary want her early-campaign coverage to be shaped by tales of her demands for the provision of crudité and hummus and rectangular-shaped pillows at each commencement address?

Hillary has learned that she can’t bore the press into submission. And that there’s a danger in believing her own hype. At least that’s what she should have learned. Her most recent actions suggest those lessons have yet to sink in.

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