(CNN) - White House spokesman Robert Gibbs is pouring cold water on the red-hot speculation, fueled by journalist Bob Woodward in a CNN interview, that President Obama may create a so-called "dream ticket" of Obama-Clinton in his 2012 re-election battle.
"No one in the White House is discussing this as a possibility," Gibbs told CNN Wednesday morning.
The speculation that Obama may dump Vice President Joe Biden as his running mate and shift him over to the Secretary of State job in favor of Clinton was sparked by Woodward in an interview Tuesday night with CNN Chief National Correspondent John King.
"It's on the table," Woodward said on John King, USA. "Some of Hillary Clinton's advisers see it as a real possibility in 2012."
Obama advisers outside the White House note privately that it's significant that Woodward attributed the theory to Clinton advisers and not White House aides or Obama advisers, signaling this may only have traction among Clinton supporters hoping she would move one step closer to the Oval Office and be set up as the likely Democratic nominee for president in 2016.
Woodward, author of "Obama's Wars" that takes a close look at deliberations between Obama, Biden, Clinton and all of the other top players inside the White House over sending more U.S. troops to Afghanistan, suggested Tuesday that Obama will need his Secretary of State to bring the party together in two years.
"President Obama needs some of the women, Latinos, retirees that she did so well with during the  primaries and, so they switch jobs, not out of the question, and the other interesting question is, Hillary Clinton could run in her own right in 2016 and be younger than Ronald Reagan when he was elected president," he said.
Clinton will be 69 years old and three months in January 2017. President Ronald Reagan was just shy of his 70th birthday in January, 1980.
"Now you talk to Hillary Clinton or her advisers and they say 'no, no there's not a political consideration here,'" Woodward continued. "Of course the answer is, you point out to them that her clout around the world when she goes to Europe, Asia, anywhere is in part, not just because she's Secretary of State or because she was married to President Clinton, that people see a potential future president in her."
Back in 2008, Biden also suggested that as former chairman of the Senate Foreign Relations Committee his dream job was Secretary of State. But Democratic officials privately say that after getting a taste of the No. 2 job as vice president, they find it hard to believe Biden still wants to be Secretary of State, which would now be seen as a step down.
At an off-camera briefing with reporters later in the morning, Gibbs added of the speculation, “it’s just absolutely not true.”
Gibbs said Biden is doing an “extraordinary job” with all of the various responsibilities the president has tasked with, which ranges from overseeing implementation of the Recovery Act to trying to help forge political reconciliation in Iraq.
“The decision to pick Joe Biden was one of the best decisions” the president has made in the last couple of years, Gibbs added, trying to snuff out any suggesting Obama is not happy with his running mate.
- CNN's Alexander Mooney contributed to this report