Rick Perry reacts to VP Biden's announcement not to run

This is a rush transcript from "Your World," October 21, 2015. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST: All right, by now, you probably have heard that a certain vice president isn't going to make the third time the charm. In fact, he isn't going to make it a third time, Joe Biden taking himself out of this presidential race, when it seemed just 24 minutes -- 24 hours ago - - almost seems like minutes ago -- he was doing everything that seemed to be telegraphing a move.

To a former Texas governor, a former presidential candidate, Rick Perry, on what he makes of that.

The read, Governor -- it's very good to have you, sir.


CAVUTO: The read is that he just reassessed things.

And Republicans are delighted. They figure Hillary Clinton is a better person to run against than Joe Biden. I don't know if that's the case.  That's their read. What do you think of this?

PERRY: Well, certainly, anyone that puts themselves up for public office - - Joe Biden and I don't agree a lot on the political side of things, but I certainly do take my hat off to him for the years that he has given to this country and the political process. So, I thank him for that.

With that said, I am sure that Hillary Clinton and Bernie Sanders have breathed a sigh of relief and will now go full-time to get his endorsement.  So, I think it has a big impact on the Republican side. But he was a very capable -- a capable individual.

CAVUTO: All right, now, right now, according to the latest polls, he was the one who had the best shot -- and these are fleeting -- of beating any of the top Republican candidates. Now, Hillary Clinton was losing to those top Republican candidates.

No one has voted yet. We are a long way from that. But do you agree with some of your colleagues who seem to say, better to run against a Hillary Clinton than Joe Biden?

PERRY: Well, whoever the Democrats are going to put up, it is going to be an individual that thinks more government, bigger government.

So it will be hopefully a candidate on the Republican side that believes in less government, more freedom, and to create an economy where the people in the country have more freedom with how they spend their money. The Democrats believe that we are not smart enough to decide how to spend our money. We will take most of it from you, and then we will redistribute it.

That's not the policy I think Americans want. So -- but, anyway, regardless of who the Democrats put up, I think the Republicans have as good a chance in a long time to regain the White House, and certainly with control of the Congress and the Senate, we can get some things done and get this country back on track again.

CAVUTO: Right now, it looks like Donald Trump is that guy. What do you think?

PERRY: I think whoever wins the Republican nomination, I am going to be for and working towards, whoever that may be. It's a long time. As you know...

CAVUTO: Even Donald Trump? You guys have said nasty things about each other.


PERRY: Listen, we have had our -- we have had our issues, and I will continue to point out where I disagree with any of the candidates.

But the fact is, whoever the Republican Party puts up is going to be substantially better for this country than a government knows best, in the case of Bernie Sanders, a real-life socialist.


PERRY: And Hillary is right in there behind him.

CAVUTO: All right, well, that's surprises me, because I had Donald Trump on here a few days ago. And he still talks about you. I want you to listen to this.


CAVUTO: Do you ever think that you hit back a lot harder, that they come at you with a peashooter, and you come back at them with a bazooka?

DONALD TRUMP, R-PRESIDENTIAL CANDIDATE: Well, they're not really peashooters. They're very vicious.

Perry went to Washington and made a whole half-hour speech about me.


CAVUTO: He is not letting go, Governor. I don't know what happened between you two. I don't know if I can work on a -- broker a peace pipe agreement here.

But what is it with you two?

PERRY: Well, I don't think a peace pipe agreement needs to be done.

I don't mind pointing out when I disagree with someone, whether it is on issues like private property rights. Again, I know more about the border than anyone that was running for the presidency. And his idea that -- he brings some good issues to the table. Obviously, the border needs to be secured. But I don't think you are going to build a wall and make Mexico pay for it.

And I'm going to point that out, that I think I do know better how to deal with that. And there were some substantial ways to make that border more secure and not just be throwing rhetoric out there. So, when I just hear rhetoric, I'm going to point it out and say, listen, this is not correct and I don't agree with it.

But, at the end of the day, whether it is Donald Trump, whether it is Jeb Bush, whether it is Carly Fiorina, whether it is Ben Carson, or any of other candidates,whoever our nominee is, you can bet I'm going to be working hard to see them elected president of the United States and get this country back on track.

CAVUTO: All right.

Now, as you know Joe Biden, if you missed the first minutes of his remarks, you would almost think he was running for president, but he had posited all of that -- in the eyes of many, as a possibility he still could, in other words, that she implodes, he is there at the ready.

Do you think he is?

PERRY: I think he has analyzed very well that getting in late is problematic. I did that in 2011. I got in very, very late. And, obviously, that didn't work out very well for me.

So, I think he has wisely looked at this, analyzed it, talked to a lot of people and come to the right conclusion. I respect him for that. And, again, I respect him for his long years of service to this country.

CAVUTO: Now, Governor, very quickly, when you stepped out and then later Scott Walker, I know it was Governor Walker who said, well, we all have to unite around essentially an alternative to Donald Trump, and that he was almost compelling those who were in the single digits to seriously continue doing so. They have not leapt at opportunity. Are you surprised?

PERRY: Not necessarily.

I think this is a process of distillation. And that is what is going on.  I don't think there is any great rush by anyone to get out and certainly not any rush by me to endorse a candidate. There's plenty of time here to look at all of the positions, to query these candidates.

CAVUTO: Governor, you were polling better than half-a-dozen of the guys still in the race, and they are still in the race.

PERRY: Well, as I shared with you the week after I got out, there were two things that had to happen last summer for me to be a legitimate candidate, to be -- one of them was standing on that main debate stage. Missed it by two-tenths of one point.

And the other one is this indictment that is still out there.


PERRY: It is a corrosive effect on me. It is a corrosive effect on my ability to raise money. And when you run out of money, it's like running out of fuel in your aircraft. Find a place to safely land.

CAVUTO: Yes, there is that.

Governor, thank you very, very much. Good seeing you again.

PERRY: You're welcome, Neil. It's good to be with you, always.

CAVUTO: All right.

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