Speaking on Fox News Sunday, Arizona Sen. John McCain, who lost the 2008 presidential race to Barack Obama, said that in a 2012 Obama vs. Palin race, his former vice presidential running mate Sarah Palin could definitely win.

“Of course she can. She can. Now, whether she will, whether she’ll even run or not, I don’t know,” he told Chris Wallace, the show’s host. “But you know a lot of things happen in campaigns Chris. I was written off a few times and we were able to come back so it’s going to be a roller coaster ride for all of them before we arrive at our nominee. But she certainly is a major factor and I believe she can be very competitive.”

Since Palin revamped her SarahPac Web site, bought a home in Arizona and launched a “One Nation” bus tour of historic sites on the East Coast that began Sunday, there has been daily speculation about whether she is seriously considering a presidential bid, trying to repair her slightly damaged brand or merely seeking to defer attention from fellow Tea Party darling Rep. Michele Bachman of Minnesota.

During a Monday morning stop at the National Archives in Washington, D.C., where the Constitution, Declaration of Independence and other founding documents are stored, Palin told a reporter that she and her family are “kind of contemplating” whether she’ll run for president.

(Photo: AP Photo/Matt Rourke)