Her Actual Experience

It's in campaigning, not governing:

What Hillary Clinton alludes to but never comes out and says when she mentions her experience with Team Clinton is that she has experience not so much in governing, but in campaigning. That's why she thinks she's more prepared to take on the GOP candidate come November, and why she so often brings the argument back to dealing with the rigors of the campaign. (It's also one of the striking internal contradictions in her 'emotional moment', since that was in effect a reaction to what she's been presenting as one of her strengths.) Of course, part of the Clinton method of governing is the permanent campaign, so for her it follows that she's got more governing experience than Obama also.