Rep. Rahm Emanuel himself discarded last month's rumor that he could potentially be tapped to fill Obama's U.S. Senate seat. Now comes fresh speculation that seems a bit more realistic. Politico's John Bresnahan says the speaker's gavel might soon be in the cards for the fourth ranking House Democrat:

But the private consensus among Democratic members, even among those who count themselves as critics, is that Emanuel is on the path to the speaker’s chair. Emanuel will have to do some fence-mending to get there, especially with some black and Hispanic Democrats he has offended over the years. But that obstacle is not seen as insurmountable for someone who, as chairman of the DCCC, gets the lion’s share of the credit for ending the GOP’s control of the House after 12 years.

What's the rationale? Speaker Nancy Pelosi, Majority Whip James Clyburn, and Majority Leader Steny Hoyer are all over 68 years old. If Pelosi serves another four to six years as speaker -- the typical length of tenure for that position -- Hoyer and Clyburn may be too old to take over.

In steps 48-year-old Emanuel.

Pelosi, who has taken a beating from conservative critics but has been pretty effective in the post, would be a tough act to follow. We know Emanuel can fundraise. But does he have the policy chops or the executive acumen to blossom in such a position? In a few years, we might find out.