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Because Barack Obama beat Hillary Clinton down and in the primaries for the democratic nomination for president.
A Democrat could run for the Democratic nomination against an incumbent Democratic President. This happened in 1980 , for example, when Ted Kennedy ran against President Carter. A democrat would not run on the same party lines as another Democrat since the Democratic party can only nominate one candidate themselves. So a third party could nominate a Democrat to run for president if that Democrat lost the Democratic nomination to someone else.
John Glenn ran for the Democratic presidential nomination in 1984. He lost to Walter Mondale.
that he would not seek reelection.
The Democratic Party in 1992 nominated William Jefferson (Bill) Clinton, the governor of Arkansas, and his Vice Presidential running mate, Senator Albert (Al) Gore of Tennessee.