Vice President Joe Biden revealed he decided not to run for president because he realized he didn't have enough time and "couldn't win" the 2016 race.

"I'll be very blunt," Biden said on "60 Minutes." "If I thought we could've put together the campaign that, that our supporters deserve and our contributors deserved... I would have gone ahead and done it."

In his first television interview since he announced Wednesday that he wouldn't run for president, Joe, along with his wife Dr. Jill Biden, revealed the thought process behind his decision, as well as the moments that led up to it, according to Time.

He said: "I came home and Hunter, our son, was upstairs with mom, with Jill. And I walked in and I said, 'You know, I just don't think there's time.' I've just decided, 'I don't think we can run the kind of campaign we have to run to be able to win.' And I remember Jill just got up off the couch, gave me a big hug, and said, 'I think you're right.'"

When asked by correspondent Norah O'Donnell whether she was disappointed or relieved to hear his decision, Jill said she was disappointed since he she would never get to see a Joe Biden presidency, but ultimately agreed with Joe's assessment.

"No, I think I was disappointed. You know, like I said, in the beginning, I mean, I thought Joe would be a great president. I've seen, you know, the strength of his character, his optimism, his hope," she said. "I believed he would've been the best president."

A full transcript of the interview can be read HERE.