Some political pundits have been criticizing major-party presidential candidates John McCain and Barack Obama for not making their vice presidential selections. There has been a lot of guessing and speculation, and with it has come many calls for them to hurry up and pick a veep.

They should take their time. It is a big decision that will have consequences in this election and for the winning ticket consequences many years down the road.

Think of the long-term impact of Ronald Reagan’s choice of George H.W. Bush for his campaign ticket in 1980. Reagan won, then Bush served as vice president for eight years. Bush won the 1988 election, and his son, George W. Bush, won the 2000 and 2004 elections.

Since Franklin Roosevelt began his fourth term in 1945, there have been 13 vice presidents. Eight became their party’s nomination for president, and five became presidents.

Choosing a vice presidential candidate is no light decision, particularly for the winning party. Few remember Richard Nixon’s running mate in 1960, Henry Cabot Lodge Jr., but almost all informed Americans know Lyndon Baines Johnson, the veep candidate for John F. Kennedy that year.

Our suggestion to Obama and McCain: Take your time. Sleep on it even. If you don’t make announcements until the conventions, fine. Let everyone wait.