Senator Rand Paul (R-KY) on Monday night lampooned the idea of Texas Governor Rick Perry running for president again.

"Well, I don't know about what I've decided yet, but if Governor Perry decides to run for president, I think there are three good reasons he could be president," he said on Fox News' Hannity. "You know, Texas is a big, successful state; he’s a long-term governor -- I can’t remember the third one, but, uh."

Earlier in the day, Perry announced he would not run for a fourth term in Texas. The announcement fueled speculation that he intended to make another bid for the White House.

During the Republican presidential primary campaign in 2011, Perry had an unfortunate "senior moment" during a televised debate. He stated as president he planned to eliminate three federal agencies, but could only name two.

"I will tell you, it’s three agencies when I get there that are gone,” Perry said. “Commerce, Education and, uh, what’s the third one there?”

Paul is himself expected to run for president in 2016.

Watch video, uploaded to YouTube by the National Review Online, below: