He has to assume that if he doesn't get the nomination this time it will be 8 years before he has another shot.
Because, as a Democrat he has to make his decisions on the assumption that the Democrat will win this time (and there is no real reason for that to seem obviously wrong at this time).
That means that he has to assume that in 4 years there will be an incumbent Democrat president and unless she is just a complete failure there would be no realistic chance for anybody else to win the nomination.
Yes, if Clinton gets the nomination this time and McCain wins, then he will certainly try again in four years, but I don't think he can make plans on the assumption that this will be an option available to him.
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