RYAN: Martha? Let's...

RADDATZ: Congressman Ryan? RYAN: Let's look at this from the view of the ayatollahs. What do they see? They see this administration trying to water down sanctions in Congress for over two years. They're moving faster toward a nuclear weapon. They're spinning the centrifuges faster.

They see us saying when we come into the administration, when they're sworn in, we need more space with our ally, Israel. They see President Obama in New York City the same day Bibi Netanyahu is and he, instead of meeting with him, goes on a -- on a daily talk show.

They see, when we say that these options are on the table, the secretary of defense walked them back.

They are not changing their mind. That's what we have to do, is change their mind so they stop pursuing nuclear weapons, and they're going faster.

RADDATZ: How do you do it so quickly? Look, you -- you both saw Benjamin Netanyahu hold up that picture of a bomb with a red line and talking about the red line being in spring. So can you solve this, if the Romney-Ryan ticket is elected, can you solve this in two months before spring and avoid nuclear -- nuclear...

(CROSSTALK)

RYAN: We can debate a time line. We can debate the time line, whether there's -- it's that short a time or longer. I agree that it's probably longer.

Number two, it's all about...

(CROSSTALK)

RADDATZ: You don't agree with that bomb and whether the Israelis...

(CROSSTALK)

RYAN: I don't want to go into classified stuff. But we both agree that to do this peacefully you've got to get them to change their minds. They're not changing their minds. And look at what this administration...

RADDATZ: But what -- what do...

(CROSSTALK)

BIDEN: Let me tell you what the ayatollah sees.

RYAN: You have to have credibility.

BIDEN: The ayatollah sees his economy being crippled. The ayatollah sees that there are 50 percent fewer exports of oil. He sees the currency going into the tank. He sees the economy going into freefall. And he sees the world for the first time totally united in opposition to him getting a nuclear weapon.

Now, with regard to Bibi, who's been my friend 39 years, the president has met with Bibi a dozen times. He's spoken to Bibi Netanyahu as much as he's spoken to anybody. The idea that we're not -- I was in a, just before he went to the U.N., I was in a conference call with the -- with the president, with him talking to Bibi for well over an hour, in -- in -- in stark relief and detail of what was going on.

This is a bunch of stuff. Look, here's the deal.

RADDATZ: What does that mean, a bunch of stuff?

BIDEN: Well, it means it's simply inaccurate.

RYAN: It's Irish.

BIDEN: It -- it is.

(LAUGHTER)

We Irish call it malarkey.

RADDATZ: Thanks for the translation. OK.

(CROSSTALK)

BIDEN: We Irish call it malarkey. But last thing. The secretary of defense has made it absolutely clear, we didn't walk anything back. We will not allow the Iranians to get a nuclear weapon. What Bibi held up there was when they get to the point where they can enrich uranium enough to put into a weapon. They don't have a weapon to put it into.

Let's all calm down a little bit here. Iran is more isolated today than when we took office. It was on the ascendancy when we took office. It is totally isolated.

RADDATZ: Congressman Ryan?

BIDEN: I don't know what world this guy's living in. RYAN: Thank heavens we had these sanctions in place. It's in spite of their opposition.

BIDEN: Oh, god.

RYAN: They've given 20 waivers to this sanction. And all I have to point to are the results. They're four years closer toward a nuclear weapon. I think that case speaks for itself.

RADDATZ: Can you tell the American people...

BIDEN: By the way, they...

(CROSSTALK)

RADDATZ: What's worse, another war in the Middle East...

BIDEN: ... they are not four years closer to a nuclear weapon.

RYAN: Of course they are.

BIDEN: They're -- they're closer to being able to get enough fissile material to put in a weapon if they had a weapon.

RADDATZ: You are acting a little bit like they don't want one.

BIDEN: Oh, I didn't say -- no, I'm not saying that. But facts matter, Martha. You're a foreign policy expert. Facts matter. All this loose talk about them, "All they have to do is get to enrich uranium in a certain amount and they have a weapon," not true. Not true.

They are more -- and if we ever have to take action, unlike when we took office, we will have the world behind us, and that matters. That matters.

RADDATZ: What about Bob Gates' statement? Let me read that again, "could prove catastrophic, haunting us for generations."

BIDEN: He is right. It could prove catastrophic, if we didn't do it with precision.

RADDATZ: Congressman Ryan?

RYAN: And what it does is it undermines our credibility by backing up the point when we make it that all options are on the table. That's the point. The ayatollahs see these kinds of statements and they think, "I'm going to get a nuclear weapon."

When -- when we see the kind of equivocation that took place because this administration wanted a precondition policy, so when the Green Revolution started up, they were silent for nine days. When they see us putting -- when they see us putting daylight between ourselves and our allies in Israel, that gives them encouragement. When they see Russia watering down any further sanctions, the only reason we got a U.N. sanction is because Russia watered it down and prevented these central bank sanctions in the first place. So when they see this kind of activity, they are encouraged to continue, and that's the problem.

BIDEN: Martha, let me tell you what Russia...

(CROSSTALK)

RADDATZ: Well, let me ask you what's worse, war in the Middle East, another war in the Middle East, or a nuclear-armed Iran?

RYAN: I'll tell you what's worse. I'll tell you what's worse.

RADDATZ: Quickly.

RYAN: A nuclear-armed Iran which triggers a nuclear arms race in the Middle East. This is the world's largest sponsor of -- of terrorism. They've dedicated themselves...

(CROSSTALK)

RYAN: ... to wiping an entire country off the map. They call us the Great Satan. And if they get nuclear weapons, other people in the neighborhood will pursue their nuclear weapons, as well.

RADDATZ: Vice President Biden?

RYAN: We can't live with that.

BIDEN: War should always be the absolute last resort. That's why these crippling sanctions, which Bibi Netanyahu says we should continue, which -- if I'm not mistaken -- Governor Romney says we -- we should continue. I may be mistaken. He changes his mind so often, I could be wrong.

But the fact of the matter is, he says they're working. And the fact is that they are being crippled by them. And we've made it clear, big nations can't bluff. This president doesn't bluff.