• With: Dick Cheney, former vice president

    This is a rush transcript from "Your World," September 13, 2011. This copy may not be in its final form and may be updated.

    NEIL CAVUTO, HOST: Well, forget the ripping that Rick Perry took at last night's presidential debate.

    Former Vice President Dick Cheney taking the Texas governor to task on my Fox Business show ahead of that debate. And, man, oh, man, he did not stop there.


    CAVUTO: Vice President Cheney, do you think there is a conceivable way any of these Republican front-runners could screw this up?


    DICK CHENEY, FORMER VICE PRESIDENT: Well, I hope not. Obviously, I'm Republican and I will support the Republican nominee.

    CAVUTO: Any nominee?

    CHENEY: Well, I will support the Republican nominee. I'm confident we'll nominate a worthy opponent for President Obama.

    CAVUTO: What if it is Rick Perry?

    CHENEY: I am not going to speculate. I haven't signed on with anybody yet. There is nothing to be gained by my speculating on --

    CAVUTO: Sure. You and me talking. No open mics here.

    CHENEY: Make a little bit of news, right, Neil?

    CAVUTO: The reason I mention Rick Perry, I know you campaigned -- because you have a long history of working with her over the many, many years, Kay Bailey Hutchison, when she challenged him. And I know -- there is always -- I raised this will Karl Rove. I raised this with Jeb Bush when he was here. Is there bad blood between Governor Perry and either -- for want of a better term, all the Bushites?

    CHENEY: I don't know. I don't know all that history. When I was in Texas, I wasn't involved in politics. It was after I left --

    CAVUTO: Right.

    CHENEY: -- that I got back involved again. So I don't know the details of the relationship. I wasn't hostile to Governor Perry, but Kay Bailey Hutchison was an old friend going to back to the Ford administration days. I promised that I would campaign for her when she ran. I went down and did an event for her, but it's not...

    CAVUTO: You have seen him since, right?

    CHENEY: No, really haven't. Haven't had any dealings with him.

    CAVUTO: OK, because other people say he sounds a little reckless, treasonous talk about Ben Bernanke. What do you think?

    CHENEY: Well, I wouldn't use language like that on any Fed chairman. Perfectly appropriate to have disagreements, but we try to set the role of the Federal Reserve chairman aside. He is independently selected, so to speak. He really does have independent authority. Good reasons for that. And we need to try to protect that.

    We shouldn't use words like treason, I don't believe, when we talk about the chairman of the Federal Reserve.

    CAVUTO: Just that a new candidate's naiveté?

    CHENEY: Perhaps, perhaps.

    CAVUTO: Yeah. You cut him a little slack on that?

    CHENEY: Well, I haven't heard him do it recently.

    CAVUTO: Mitt Romney, who you generally said glowing things about.

    CHENEY: I like him.

    CAVUTO: Jeb Bush said the same. He seems to be, among the party establishment, the guy. Is he?

    CHENEY: Neil, let me explain once again. I haven't picked anybody. I haven't endorsed anybody. I'm watching the race with great interest. And at some point, I will either endorse or quietly vote for a candidate of my choice.

    CAVUTO: I know I'm belaboring the point, sir. But I can't see you supporting a Ron Paul, who wants to pull up our troops from all over the world, who has been a big critic of the Iraq war, our incursion into Afghanistan. He says we even make a big deal if and when Iran gets nuclear weapons, that that is something for them to settle in that region.

    You wouldn't support a nominee like that, would you?

    CHENEY: There are nominees that I'm not enthusiastic about. They haven't gotten the nomination, not likely to get the nomination.

    CAVUTO: So you're ruling Ron Paul out?

    CHENEY: I'm ruling out the opportunity here today to indicate who I support.

    CAVUTO: Michele Bachmann? Do you like Michele Bachmann?

    CHENEY: I don't know her.

    CAVUTO: Really? What about the Tea Party?

    CHENEY: The Tea Party has played a useful role, in the sense that it has sort of put front and center the basic fundamental problem of our deficit spending of our long term debt, made it difficult for members of Congress to ignore that issue going forward. And in that regard, the Tea Party has helped shape the agenda that we're now having to wrestle with. And that is positive.