This is a rush transcript from "Your World With Neil Cavuto," September 9, 2008. This copy may not be in its final form and may be updated.
NEIL CAVUTO, HOST: Now to a major announcement that could be coming tomorrow. If true, it could turn this whole presidential campaign upside down: reports today that some fringe candidates, including Bob Barr, may step down, so that a major third-party candidate can step in, something we have not seen since that fellow Ross Perot.
And the guy's name that is being bandied about most of is the guy who had a huge following at the convention in Minnesota.
I'm talking about former Republican presidential candidate, and, who knows, maybe a third-party presidential candidate, Ron Paul.
Congressman, any truth to this?
REP. RON PAUL (R), TEXAS: Well, not a whole lot. I mean, if I did have a really, really great surprise like that — and that would be one — I wouldn't want to reveal it now. Then I wouldn't have a surprise tomorrow.
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CAVUTO: Why not? Why couldn't you? This is such a huge audience.
PAUL: It would be your show.
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CAVUTO: Well, it would be a boom.
PAUL: I have to save a little bit.
But it's not going to be quite that dramatic. I'm going to stick to my guns. I have no intention, no plans to run in the fall, so — but I do want to make a statement, obviously, or I wouldn't beholding the press conference. And it is dealing with other candidates and what I think is the problem in this country and where — which direction we want to go.
So, if people are interested and listening, hopefully they tune in, but I have to save a little bit of suspense for tomorrow.
CAVUTO: You are very clever, Congressman. And here's what I think you're going to do. And you can pooh-pooh me, because — as you have so many times on my show. You're going to throw your weight behind a candidate. And that's all this is about.
What do you think?
PAUL: Well, not exactly. But I can't confess what I'm going to do.
But you don't have the whole...
CAVUTO: No. But you, yourself, are not running? You, yourself are not running, unequivocally, as a third-party candidate this fall?
PAUL: No, I'm sticking to my guns on what I have said for the past year. You did ask me that question a few times during the year.
CAVUTO: Yes, I did.
PAUL: So, no, I am going to stick to that.
But I will have a candidate or two there. And we will make an announcement. And, quite frankly, whether it has an effect on the election, I wouldn't be the one to predict that, because I don't think what I say necessarily would.
But it's something I have worked on. I have strong beliefs there's one or two people out there that care. So I thought I would make an announcement and that will come tomorrow.
CAVUTO: All right. Does it involve Bob Barr?
PAUL: He may attend.
CAVUTO: Oh, he may attend.
PAUL: Yes, I heard he might show up.
CAVUTO: What about — this guy got almost as much applause at your convention away from the convention as you, Jesse Ventura, the former independent governor of Minnesota. Does it involve him?
PAUL: I haven't heard any confirmation. Come on, Neil. Come on, Neil.
CAVUTO: Any confirmation of, what, that it involves him, or that it will involve...
PAUL: That he — no confirmation that he will be there, no.
CAVUTO: Oh, OK.
So this is a big deal. Everyone's excited about it. You're not even going to tip your hand. I mean, now you've got everyone thinking that you were going to make a third-party bid. That's out. You're giving me your word that's out. So why would they want to go to this thing?
PAUL: Well, one thing about the third-party bid, the system — and I argued this early on — it is so biased against us, getting on the ballots, and right now it would be too late, and you got to be Ross Perot with a billion dollars in order to do that. And that's part of the complaint that I'm going to be expressing tomorrow.
CAVUTO: I got you.