Cruz sets 'major announcement' for 4 p.m.; looks like it's Fiorina time.

Yesterday, we discussed rumors that Ted Cruz was vetting Carly Fiorina for the VP slot. Allegedly, he was going to announce his running mate early, in order to drum up some positive press, generate a little momentum, and make people forget about his then-impending East Coast drubbing. Now, as the Hoosier State is looking more and more like Cruz's last chance to stop Trump, it appears like the big day has arrived.

Cruz has let the press know he'll be making a major announcement, in Indiana, this afternoon at 4 P.M. It's hard to imagine that a "major announcement" could be anything other than his Vice Presidential pick. Then we have this from the Washington Post's Chris Cillizza:

Carly Fiorina has been spotted in Indianapolis. Holy cow. This is happening.

— Chris Cillizza (@TheFix) April 27, 2016

There are three ways you can look at this: 1. It's a smart political move, for the reasons I outlined here. 2. It's a doomed desperation play, a hail Mary pass to avoid the inevitable. 3. It's Cruz's only card left to play, so he might as well play it.

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Number three also works in combination with the other two. The fact is, Cruz has all but exhausted his primary options. Trump can't lock up the nomination in Indiana, but if Cruz takes the state it becomes very difficult for the New York real estate mogul to close the deal elsewhere. If Trump performs well there, the same becomes true for those out to stop him. Indiana votes May 3, making for an interesting week ahead...