Cheney talks up a 2012 Hillary Clinton campaign

Hillary Rodham Clinton gained a very unlikely supporter yesterday.

Former Vice President Dick Cheney in an interview with ABC News' Jonathan Karl Wednesday offered glowing praise for the Secretary of State and 2008 presidential candidate, calling her a "pretty formidable individual" and suggested Clinton should challenge Barack Obama in 2012.

"I think she's probably the most competent person they've got ... in their cabinet. And frankly, I thought she was gonna win the nomination last time around," Cheney said. "Maybe if the Obama record is bad enough--and these days it's not very good, given the shape of the economy--maybe there will be enough ferment in the Democratic Party so that there will be a primary on their side."

But before you go questioning Cheney's political leanings, know that his praise wasn't totally disinterested.

The former vice president conceded that a Clinton-Obama primary would potentially benefit his own party. "I think it might even help the Republicans."

You can watch the exchange below via ABC News:

Cheney also offered some critical appraisals of the Republican presidential field. Asked to comment on Texas Gov. Rick Perry and Perry's charge that Federal Reserve Chairman Ben Bernanke is "treasonous" for printing more money, Cheney expressed his displeasure, calling the comment invalid and "over the top."

Cheney also responded that he doesn't agree with Perry's characterization of Social Security as a "Ponzi scheme."

But Cheney suggested he's reserving judgment about Perry--since he's just beginning his campaign--as well as the other candidates.

"I don't plan to endorse anybody till we get a lot farther down the road," he said.