This is a rush transcript from "Your World With Neil Cavuto," July 28, 2009. This copy may not be in its final form and may be updated.
NEIL CAVUTO, HOST: All right, stocks down a little bit today, but is the vice president taking credit for the recent run on Wall Street?
Listen to this.
(BEGIN VIDEO CLIP)
JOSEPH BIDEN, VICE PRESIDENT OF THE UNITED STATES: When we took office on January 20 — 20, our market was in freefall. We put in place a three-legged approach to deal with this great recession to prevent it from becoming a Great Depression, and began to climb out of that deep hole.
(END VIDEO CLIP)
CAVUTO: So, did the White House safe the economy from a freefall?
• Video: Watch Cavuto's interview
Let's ask former vice presidential nominee Geraldine Ferraro, who says that a guy who did become vice president is lying through his teeth.
GERALDINE FERRARO, FORMER U.S. CONGRESSWOMAN: Oh, no, I never said that.
CAVUTO: Kidding. No.
FERRARO: Never, never, never.
No, he's absolutely right.
CAVUTO: All right.
FERRARO: If you take a close look at — at what makes Wall Street do what it does, it is usually confidence in what is going on.
And this has been going on for the past at least month. I have heard more than one analyst — I do watch other shows as well. I am sorry, Neil.
FERRARO: But I do hear — I have heard them say, wow, look at this. We're — it's — we're moving out of a recession now.
You know, for the first time in how long, the stock exchange has reached over 9000, since what? Now, you tell me. Eighteen months? More than that?
CAVUTO: Well, then — then — last January.
FERRARO: A long time. So, it's...
CAVUTO: So, let me ask you this.
FERRARO: It's more than since January, because it's gone...
CAVUTO: No, we are back to numbers we had in January.
CAVUTO: Early January. But you're fine. I am not going to quibble with numbers with you, because I love you.
CAVUTO: But — but how much of this is built on growing confidence that the president is not going to get all he wants, that he's not going to get maybe a $1 trillion health care...
FERRARO: Stop looking at...
CAVUTO: ... mug's game, mug's game.
FERRARO: Well, because the — the health care bill, he is going to get something. He's not going to get all...