"Face the Nation" transcript: March 25, 2012

Republican presidential candidate Rick Santorum on "Face the Nation," with host Norah O'Donnell, Sunday, March 25, 2012.

Below is a rush transcript of "Face the Nation" on March 25, 2012, hosted by CBS News chief  White House correspondent Norah O'Donnell. The guests are Republican presidential candidate Rick Santorum, Republican Rep. Paul Ryan, and Democratic Senator Chuck Schumer.

NORAH O'DONNELL: Today on FACE THE NATION, Rick Santorum has a big win in Louisiana but can he catch Mitt Romney in the delegate count?

RICK SANTORUM (Republican Presidential Candidate): Mitt Romney might drop out. I'm not suggesting for the press, I'm not suggesting he drop out, but if he wants to, I'll certainly accept his resignation. You know, after you've outspent your opponent about fifty to one and you still can't put the race away, at some point you might want to say, well, you know, maybe I can't win after all.

NORAH O'DONNELL: With another win in the Deep South yesterday Rick Santorum campaigns in the next key primary state, Wisconsin. How well does he have to do in the rest of the primaries to be a serious contender for the nomination--we'll ask him.

And there's breaking news overnight as former vice president Dick Cheney undergoes heart transplant surgery. We'll have an update.

And, then we'll take a look at the story that's gripping the nation, the shooting of Trayvon Martin, an unarmed African-American teenager in Florida. Even the President weighed in this week.

PRESIDENT BARACK OBAMA: If I had a son, he'd look like Trayvon.

NORAH O'DONNELL: There's outrage across the country over the Florida law that allowed the shooter to go free. Does the "Stand Your Ground" law go too far?

House Republican chairman Paul Ryan will join us to discuss his proposal to overhaul Medicare and Medicaid.

And then we'll get the Democratic perspective from New York Senator Chuck Schumer. It's all ahead because this is FACE THE NATION.

ANNOUNCER: From CBS News in Washington FACE THE NATION, substituting for Bob Schieffer CBS News Chief White House Correspondent Norah O'Donnell.

BOB SCHIEFFER: Good morning again. And welcome to FACE THE NATION.

Vice President Dick Cheney remains hospitalized in the intensive care unit of a Washington area hospital after undergoing successful heart transplant surgery yesterday. Cheney suffered from congestive heart failure and has had five heart attacks since the age of thirty-seven. He's been waiting for a heart since his last heart attack. The former vice president is seventy-one years old. And there's no word yet about when he will be released.

We turn now to our other top story, Campaign 2012. Rick Santorum had a big win in the state of Louisiana yesterday, picking up forty-nine percent of the vote. Mitt Romney finished in a distant second with twenty-seven percent of the vote. Santorum won ten delegates in Louisiana, which brings his delegate count to two hundred and forty-one. He is still about three hundred delegates behind Mitt Romney. And Rick Santorum joins us now from Green Bay, Wisconsin. Senator, good to see you. Thank you so much for joining. Congratulations on your win.

RICK SANTORUM: Well, thank you very much. I just want to thank all the folks in Louisiana. We had a-- we had a wonderful time down there and it was just so reassuring to go down and, you know, even though a-- a lot of folks who are saying this race is over, people in Louisiana said, no-- no, it's not. That they still want to see someone who they can trust, someone who's not running an Etch A Sketch campaign but one that, you know, has their principles written on their heart, not on a-- on an erasable tablet and I think that's what-- that's what helped us deliver the win in-- in Louisiana. And I think we're going to do very well up here in Wisconsin, too.

NORAH O'DONNELL: Well, Senator, let me ask you though. You're going to need to win about seventy percent of the remaining delegates in those future primary contests. What credible path do you have to the nomination given that?

RICK SANTORUM: Well, first of, I don't agree with the delegate math that the Romney campaign is putting out there. For example, Florida and-- and Arizona, they have it as a winner-or-take all state. And it's-- they're not winner-take-all. We-- we saw an-- an article written by the head of the Rules Committee on the RNC, one of the guys on the Rules Committee of the RNC and-- and before April 1st, no state can be a winner-take-all. So, you're looking at, you know, probably fifty or more delegates that Governor Romney has-- is going to be taken away from-- it is going to be proportioned between me and mostly congressman Gingrich and-- a-- a lot of caucus states, again, the numbers are wrong. I mean, Iowa is a good example. They're twenty-eight delegates. We expect to get the vast majority of them probably up to twenty delegates. We don't think Governor Romney will get more than one or two. Yet they're divided almost equally right now. So, there's a lot of bad math there that doesn't reflect the reality of--

NORAH O'DONNELL (voice overlapping): All right.

RICK SANTORUM: --what's going on, on the ground. And so, I-- I think-- I think we're in much, much better shape than what the numbers that are out there suggest.