• With: Douglas Wilder, former Virginia governor

    This is a rush transcript from "Your World," August 15, 2012. This copy may not be in its final form and may be updated.


    JOSEPH BIDEN, VICE PRESIDENT: Romney wants to let the -- he said in the first 100 days he's going to let the big banks once again write their own rules, unchain Wall Street. They're going to put you all back in chains.



    NEIL CAVUTO, HOST OF "YOUR WORLD": You know Governor Romney was not the only one blasting those comments. What Vice President Biden said in Virginia is not sitting well with one of that state's former governors, and did I mention he's a Democrat?

    With me now, one of my favorite guests, former Virginia Governor Douglas Wilder.

    Governor, good to have you back.

    DOUG WILDER (D), FORMER VIRGINIA GOVERNOR: Neil, it's always good to be with you.

    CAVUTO: What did you make of what the vice president said?

    WILDER: Well, first of all, it's divisive and certainly uncalled for.

    I don't think the Obama administration needs that at this time. And as you know, I've not been the most strong supporter of Joe Biden. And yet, we all know he's gaffe-prone. But when you make a statement that says they are going to put ya'll back in chains, which means I'm OK, not going to happen to me, and they...

    CAVUTO: Well, that's interesting, yes, yes.

    WILDER: We will work through it, but you all will be in chains.

    Now, slavery is nothing to joke about. And the history of this nation's involvement with slavery is nothing to pass off in a joke. And so let's give him the benefit of the doubt by saying, well, he didn't mean all of that. And his apologists are already out there saying it.

    But you can't continue to make gaffe after gaffe after gaffe and to believe that it's going to be supportive of what you and the president are trying to do. Reach out and unite.

    CAVUTO: Governor, let me ask you -- another former governor, Sarah Palin, was on with Greta Van Susteren last night on this network saying maybe it's time for the president just to recognize the obvious, Joe Biden's a liability, put Hillary Clinton on the ticket with him and dump Joe.

    What do you say?

    WILDER: Tha's not going to happen. I saw your interview with John McCain.

    It's too late for that. We all know that.

    CAVUTO: Yes.

    WILDER: And I agree with John to the extent that he said that she's ready for 2016. She's not even going to stay around to be on this ticket, period, in the administration.

    So the more important thing is don't divide the country. We are not African-Americans. We are Americans. We are not subjects that would finally understand what the circumstances are.

    People will measure up. And that's why you need to reach out and talk to people as adults, speak to them as equals, and not they are going to put ya'll back in chains, Which means you are separating yourself from ya'll.

    CAVUTO: you know I didn't catch the ya'll part. You always, always catch stuff I miss.


    CAVUTO: You know, Governor, I remember when Barack Obama was first elected coming into office -- and you and I chatted throughout that whole process and all.

    WILDER: Yes.

    CAVUTO: And one of the key virtues you brought to office -- I don't care whether people agree or disagree -- you wanted a moderate approach.

    You felt that you couldn't be too extreme one way or another, and that the message for Democrats, for example, in your victory was that the moderate -- the moderate approach, the middle-ground approach is always better than going sharp left.

    The rap against this president is that he is has unabashedly and unapologetically gone sharp left, and there is no dialing him back now. What do you say to that?

    WILDER: Well, the real problem, Neil, is this.

    This election is more than just about electing the president. You're going to be electing the majority of the Senate, the majority of the House. Let's assume, for whatever reasons, that the majority of the Senate now returns to Democratic hands and everyone knows -- I'm sorry -- returns to Republican hands. No one believes that...

    CAVUTO: Do you think that's going to happen? Do you think that's going to happen?

    WILDER: It – it's a strong chance that it could happen.

    There are some members of the Democratic Party who are concerned about that.

    CAVUTO: Right.

    WILDER: And it gets to the point you just made. Let's assume that does happen. You've got to govern with the Congress that would be a majority of the opposite party. And then what can you get done?

    CAVUTO: What about...