Joe Biden announces he won't run for president in 2016

WASHINGTON, D.C. – United States Vice President Joe Biden announced Wednesday that he will not join the 2016 presidential election. Biden made the announcement at the White House with President Barack Obama at his side.

"Unfortunately, I believe we're out of time," Biden said. "The time necessary to mount a winning campaign for the nomination. But while I will not be a candidate, I will not be silent."

Biden said he intends to speak out "clearly and forcefully" and influence where the Democratic Party stands. He said the country is on the cusp of resurgence and that attempting to undo the Obama legacy would be a "tragic mistake."

Republican National Committee (RNC) Chairman Reince Priebus released the following statement on Vice President Joe Biden's announcement that he is not joining the Presidential race:

"The Vice President's decision not to enter the 2016 race is a major blow for Democrats, who now will almost certainly be saddled with their unpopular and scandal plagued front-runner Hillary Clinton," said Republican National Committee Chairman Reince Priebus in a statement. "Vice President Biden was the most formidable general election candidate the Democrat Party could have fielded, and his decision not to challenge Hillary Clinton greatly improves our chances of taking back the White House. With each revelation about her growing email scandal or conflicts of interest at her State Department, Hillary Clinton is getting more beatable by the day."

You can watch Biden's full announcement in the video posted above.