Gary Johnson: Trump is toast

This is a rush transcript from "Your World," October 25, 2016. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST: You heard him Donald Trump. You heard him blasting the media. You heard him blasting Hillary Clinton. You heard him blasting his doubters.

To Gary Johnson, the Libertarian nominee for president of the United States, who was hearing that as well.

Governor, very good to have you.

What did you think of what Trump was saying?

GARY JOHNSON, LIBERTARIAN PRESIDENTIAL CANDIDATE: Oh, well, I think Trump is toast. I really do. I don't think he is going to -- I think he is just losing support on a regular basis.

And, you know, we are putting ourselves out there myself, Bill Weld, as a principled alternative to...

CAVUTO: Well, why do you think he is toast? I mean, are we looking at the same polls? I see this IBD one where they're about even. I see in six of the battleground states, he and Hillary Clinton are separated by two points two three points. That doesn't sound like toast.

JOHNSON: Well, not -- polls aside -- polls go up and down.

My sense is, is that, when he talks about immigration the way that he talks about it, he alienates a whole lot of people. He is not going to reform the entitlements. He's not going do anything with regard to Medicaid, Medicare, Social Security. I don't think it's an option to not talk about those things. So, will Republicans actually be getting smaller government if they vote for Donald Trump? I don't think so.

CAVUTO: So, who are you reaching out to, Governor? Would it be the traditional Republican voter? He's had fits and starts with the Republican establishment types. Who are you reaching out to?

JOHNSON: Well, reaching out to young people. Young people are getting screwed.

I'm going to get my retirement. I'm going to get my health care. And you are going to have to pay for it. And guess what? It probably won't be around when you're there to collect it.

You just reported on the fact that President Obama's Affordable Health Care Act, the premiums are going to skyrocket. Well, that's young people.

CAVUTO: Would you junk it? Would you junk it? Now, Donald Trump says he would scrap it and start from scratch.

JOHNSON: I don't think that that's realistic. But reforms to health care would involve bringing competition to health care. That's the whole free market approach to everything.

CAVUTO: So, you're anti-Hillary Clinton with her eventually getting the public option going?

JOHNSON: Well, that's going to -- in my opinion, that's going to make it worse. And like I say, back to young people, young, healthy people are having to pay for that for older, not-so-healthy people.

CAVUTO: And you're right. They are not signing up in droves to do that.

But you mentioned, on the immigration thing, if you don't mind my backtracking, sir, one of the interesting sub-numbers in a poll out of Arizona, competitive though it is, is that he had -- Donald Trump had 30 percent of the Hispanic vote, 30 percent.

That is pretty remarkable, don't you think?

JOHNSON: Well, it is. I don't know how accurate that is.

I have business interests in Arizona. And when Jan Brewer came out and said the things that she said about Mexican immigration in Arizona, I will tell you, Phoenix took it in the shorts economically. So...

CAVUTO: But you would think that, if Hispanics were furious at the former governor or Donald Trump, not a one of them, not a one of them would be gravitating to Donald Trump.

Yet one in three, again, polls, to your point, Governor, are all over the map, but one in three in Arizona, sort of ground zero in this whole battle, like Donald Trump.

JOHNSON: Well, coming from New Mexico, where 50 percent of the population is Hispanic, how is a crackdown on 11 million undocumented workers going to go?

It's going to be a house-to-house, knock on the door, let's see your papers, and if you don't have your papers, Mexico, here we come for a lot of people who have never even been there before?

Look, we should make it as easy as possible for somebody that wants to come into this country and work to be able to get a work visa. A work visa should entail a background check and a Social Security card. And don't build a fence across the border.

If there is any country that we ought to be reaching out to economically, diplomatically, it should be Mexico.

CAVUTO: But are you troubled, finally, Governor? I know you talk about Donald Trump and say he's toast. I don't know how quickly or why you come to that conclusion, because you're right. Polls can be interpreted any way.

But you have dropped considerably. Now, where your support has gone, I don't know. But, depending on the poll, you have gone from double digits to single digits and, in some states, you know, you're disappearing.

(LAUGHTER)

JOHNSON: Well, offering a principled alternative to both of them.

I mean, Hillary Clinton is going to grow government. Taxes are not going to go down. They are going to go up.

CAVUTO: But are you troubled by that? You have a strong message, but are you worried that it's -- now when you need it most to resonate, it's not?

JOHNSON: Well, you know, polls are polls.

And I'm half -- look, the glass is half-full here.

CAVUTO: All right.

JOHNSON: This is giving people an opportunity to vote for their first choice among young people, among independents, among active military personnel.

(CROSSTALK)

CAVUTO: All right, we will see.

And, as you point out, we have still got a couple of weeks to go.

Governor, thank you very, very much. Very good seeing you again.

JOHNSON: Always, Neil. Thank you. Thank you.

CAVUTO: The Libertarian candidate for president of the United States, Gary Johnson.

Content and Programming Copyright 2016 Fox News Network, LLC. ALL RIGHTS RESERVED. Copyright 2016 CQ-Roll Call, Inc. All materials herein are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of CQ-Roll Call. You may not alter or remove any trademark, copyright or other notice from copies of the content.