we're just beginning what is now a three-phased -- chris: peesm, it's doable to get -- people, it's doablet on the ballot. >> much easier than it used to be. financial rules make it easier. if it's romney against obama, there will definitely be a third party candidate. chris: shades of 1948. henry wallace, strom thurmond, harry truman and tom dewey. big four. why are president obama and vice president biden talking down their why are they calling themselves the underdogs? be right back. chris: welcome back. this week president obama and vice president biden talked down their chances. >> the majority of americans, 55% think you'll be a one-term president. are you the underdog now? >> absolutely. >> the american people are dissatisfied with the state of the nation at the moment. that all by itself is enough to make you the underdog. chris: which brings us to this week's big question. was that smart? dan rather. >> they're not the underdogs or overdogs. it's even money and that's what they can't to cast themselves as the underdog but an incumbent president is never the underdog this early. >>