The Shrine

Vice President Joe Biden said he will not run for president in 2016.

Biden announced his decision in a statement given from the White House on Wednesday.

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

Biden's decision comes after months of speculation over whether he would jump in the race. In May, Biden's son, Beau, died of brain cancer, devastating the vice president and his family. The death of his eldest son left the vice president questioning whether he had the stamina for a 2016 presidential bid.

Biden said Wednesday his ongoing grief over his son's death "closed the window" on him running for president.