In news from Washington, Democatic Senator Barack Obama has moved a step closer to the 2008 presidential race. In a video posted on his website Tuesday, the junior senator from Illinois said he is forming an exploratory committee toward a bid that could make him the nation’s first black president.

Sen. Barack Obama: “For the next several weeks, I am going to talk with people from around the country, listening and learning more about the challenges we face as a nation, the opportunities that lie before us, and the role that a presidential campaign might play in bringing our country together. And on February 10th, at the end of these decisions and in my home state of Illinois, I’ll share my plans with my friends, neighbors and fellow Americans.”

New York Senator Hillary Clinton is expected to announce her candidacy in the coming weeks. Meanwhile, former New York Mayor Rudy Giuliani indicated he’s preparing to seek the Republican presidential nomination.

Rudy Giuliani: “We are seeing how much money we can raise, how many people we can put together. We are studying the issues. We are spending lots of time studying the issues that exist now and the issues that you think might exist two years from now and determine you can make a big difference. And we’ll decide some time this year.”

Giuliani was speaking to the Foreign Press Association in Rome. Giuliani’s campaign suffered a possible setback this month when leaked campaign documents suggested he might drop out of the race due to insurmountable personal and political concerns.