This is a rush transcript from "Your World With Neil Cavuto," August 25, 2010. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST: Everyone wants to know about this thing -- the president's mid-vacation conference call on the economy today. Now, on the call, what we're hearing, Treasury Secretary Tim Geithner, economic advisers Larry Summers and Christina Romer -- she's on her way out, as you know -- not on the call, though, Vice President Joe Biden.

Could it be because of this?

(BEGIN VIDEO CLIP)

VICE PRESIDENT JOE BIDEN: But there isn't any doubt we're moving in the right direction.

(END VIDEO CLIP)

CAVUTO: Well, to do the Democrat that says that Joe needs to go in one direction -- that is out the door.

Former Virginia Governor Doug Wilder joins me right now.

Now, I always love having Governor Wilder on, because I have said this before to you, Governor. I have said, we would not have a Barack Obama today had it not been for this young man becoming the first African-American elected to head a state.

So, you can either praise Governor Wilder or condemn him. But, anyway that's how that goes.

(LAUGHTER)

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

CAVUTO: Same here, my friend.

That's a little rough, saying the vice president should go.

WILDER: Well, I haven`t said that.

What I have said, that it would be good for the president to consider what would be the best winning team for him. And in my judgment, it would be wiser for him to accept Hillary Clinton as his running mate...

CAVUTO: And where does Joe go?

WILDER: ... and understanding that she -- that is for the president to determine.

There are others who have suggested that he has always wanted to be secretary of state. I don't make that suggestion. I think that's the president's call.

If you look at poll numbers -- look at the Rasmussen poll that just came out -- 51 percent of the people think that Hillary Clinton is mainstream -- 48 percent of the people think that Obama is extreme. And when you have those comparisons...

(CROSSTALK)

CAVUTO: She looks mainstream compared to him, right?

(CROSSTALK)

WILDER: Well, if you put Joe Biden in the mix, what do you think that would be?

(CROSSTALK)

WILDER: Let me say something else I also said to Chris Matthews when he posed that question, what should happen?

I said, Chris, do you believe that the American people would elect Joe Biden as president? And he hesitated. Then he said, well, I don't think so. I said, well, he has had a chance twice to run for the nomination that has been refused him.

So, you want someone in the presidency that has a chance on a moment's notice to be considered competent and capable enough to lead this nation.

CAVUTO: OK.

WILDER: And the question remains that there are many, many gaffes that have been made. And you just played one, that we`re heading in the right direction. Where are the jobs? And what about our economy at this point?

CAVUTO: OK. Two things. What the heck were you talking to Chris Matthews for?

(LAUGHTER)

CAVUTO: Secondly, where would Joe go? Because the fact of the matter is, yes, he could go to secretary of state. That would be like a bullet in a china shop there.

But the bigger point is...

(CROSSTALK)

WILDER: I didn't suggest that either, Neil.

CAVUTO: I know. I know.

But the bigger point, though, is, if you are to swipe the vice president for impolitic or not the wisest of words regarding the economy and stimulus working, when so many believe just to the contrary, why not just continue with that theme with the economic team?

Minority Leader Boehner saying, just throw all of them out. Where does this end?