Vice President Biden misspoke Saturday at an inauguration ball by saying he was proud to be “president” – causing speculation about whether it was a gaffe or a hint about his 2016 plans.

“I'm proud to be president of the United States,” the 73-year-old Biden said at the Iowa State Society inauguration ball.

The audience laughed and cheered before son Beau Biden, Delaware's attorney general, interrupted to say his father misspoke.

The Iowa Caucus is historically the first primary vote in the presidential election cycle, and victory or defeat there can either launch or end a campaign.

President Obama and Biden won the battleground state in 2012. And presidential hopefuls frequently make stops there in off-election years.

Biden, who has a history of gaffes, corrected himself by repeating one of his standard 2012 campaign lines.  

"I'm proud to be vice president of the United States," he said. “But I am prouder to be Barack Obama's, President Barack Obama's, vice president."

Maryland Democratic Gov. Martin O’Malley, a potential 2016 presidential candidate, reportedly also was at the ball, in downtown Washington.