When asked if she has decided to run for President, Senator Hillary Clinton has a stock response: She’s focused on her re-election fight here in New York in 2006. But on Oct. 14, when Mrs. Clinton revealed her early 32-to-1 financial edge over her likely rival next year, another unspoken answer crystallized: Mrs. Clinton is already running for President, and next year’s election is just part of that campaign. Campaign-finance regulations encourage members of Congress to store up money in Congressional accounts for use in a Presidential race. From Mrs. Clinton’s perspective, then, her prospective Republican opponent, Jeanine Pirro, is...