Real Clear Politics has the transcript:
BARACK OBAMA: You know, Mr. Perry just got into the presidential race. I think that everybody who runs for president, it probably takes them a little bit of time before they start realizing that this isn’t like running for governor or running for senator or running for Congress, and you’ve got to be a little more careful about what you say.
Ah, here we go, Big Bad Barry trying to intimidate someone like Perry? I do not think that will work out for you Mr. President