Photo from source, RawStory.com
There are a few realities which I can accept as it regards impeachment of the President and Vice President. One of the biggest ones is the time factor. To engage Congress in an impeachment battle, this late in the administration's term, would likely take the entirety of that term. It would also eat up so much of the Congress' time, that they would not be able to focus on other important issues.
Another problem is public perception. I believe that it is possible to lay out this administration's transgressions, and show how serious they are. But the right-wing spin machine would be in Category 5 mode, preventing much of those arguments from sticking. It would be played (by the right-wing) as a political vendetta, revenge for Clinton's impeachment.
Those realities aside, it is profoundly unfortunate that impeachment is not even going to be considered. This administration's transgressions are so many and varied, it makes Clinton's--even Nixon's--foibles pale by comparison. It will be a great injustice if the members of this administration are allowed to finish their terms with no reprimand whatsoever. But I believe that is exactly what is going to happen.
Nancy Pelosi's "impeachment off the table" story:
Pelosi: Democrats will hold Bush 'accountable,' despite inability to end war, unwillingness to impeach at: RawStory.com.
An article on valid reasons for impeachment:
The case for impeachment of President George W. Bush at: SourceWatch.org
And another, older one: