Vice President Biden Announces He Will Not Run For President

WASHINGTON (CBS SF) -- Vice President Biden announced he will not seek the Democratic nomination for President.

Biden was flanked by President Obama and his wife when he made the announcement in the White House Rose Garden.

Biden told the crowd that gathered, that although his family has healed after the recent loss of his son Beau, "the window has closed" on any hope of mounting a realistic campaign for presidency.

The 74-year-old talked at length about his late son who died last May of brain cancer at 46. Joseph Robinette "Beau" Biden III had urged his father to run for president.

"Beau is our inspiration, unfortunately I think we are out of time," he said, adding "While I will not be a candidate I will not be silent. I will continue to speak out on where we need to go as a nation."

Biden said he believes President Obama has led the nation from "crisis to recovery" and the Democratic candidate should not only defend the Obama legacy, "they should run on his record."

The political world waiting weeks for a decision from Biden.