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Vice President Joe Biden Announces He's Not Running For President

He says that his 'window' of time 'had closed.'

Today (Oct. 21), Vice President Joe Biden announced that he will not be entering the race for the 2016 presidential election.

Joined by President Barack Obama and speaking at the Rose Garden of the White House, Biden said that the "window" of time and opportunity needed to create a campaign had closed.

Biden spoke candidly about the grieving process his family has endured since the death of his son, Beau, earlier this year, and how this had impacted his decision not to run. "Beau is our inspiration," he said. "Unfortunately I believe were out of time, the time necessary to mount a winning campaign for the nomination."

He continued, "There is no time table for this process. The process doesn’t respect or much care about things like filing deadlines or debates and primaries and caucuses."

The Vice President said that although he "will not be a candidate, [he] will not be silent" about pressing issues, and spoke bluntly about income inequality. "It's a matter of social stability for this nation. We cannot sustain the current levels of inequality that exist in this country ... The middle class will never have a fighting chance in this country as long as several hundred families -- the wealthiest families -- control the process."

Biden also stressed an increased need for cancer research. "If I could be anything, I would've wanted to be the president that ended cancer, because it's possible."

Biden said that overall, he's still optimistic about "unlimited possibilities" of the United States. "I am more optimistic about the possibilities, the incredible possibilities to leap forward than I have been at any time in my career."

He concluded by thanking all those who had supported his family. "We can do this, and when we do, America won't just win the future -- we will own the finish line."