Do you think he has the self discipline to do a daily show?
There are several problems with this:
1. Clinton will make the show about him -- he can't help it. Many Democrats want to move away from Clinton as the face of the party.
2. Callers (if he allows an ideological diversity like Limbaugh does) will make the show about Clinton. They will challenge him on his past policy decisions. Clinton will either spin or get angry at being confronted repeatedly, or deny opposition viewpoints from appearing on the show altogether. The contrast to Limbaugh's style of engaging those with opposing views would be apparent, and if not, then it would be made apparent by Limbaugh and other conservative hosts to mock the liberal attempt to duplicate them.
3. Non-political commentators don't bring the baggage of past policy decisions to the microphone the way Clinton would. Clinton will be dragged back to his administration policies repeatedly and may not be able to stay on message as consistently as a non-political host would.
Just some thoughts...
-PJ