Paul Ryan Is Mitt Romney's Vice-Presidential Nominee

At age 42, seven-term Wisconsin congressman is the first Gen-X candidate on a presidential ticket.

Mitt Romney named Representative Paul Ryan as his vice-presidential nominee early Saturday morning (August 11). The Wisconsin congressman was officially announced during a rally in Norfolk, Virginia, with the presidential hopeful introducing "America's Comeback Team."

During his introduction, Romney emphasized Ryan's background. Ryan was first elected to the House at age 28. "His leadership begins with character and value. Paul Ryan works in Washington, but his beliefs remain firmly rooted in Janesville, Wisconsin.

"He combines a profound sense of responsibility from what we owe the next generation and an unbounded optimism in America's future and an understanding of all the wonderful things the American people can do," Romney added.

The seven-term congressman walked to the stage in a less formal look -- no tie -- and took jabs at the competition. "This is a crucial moment in the time of our nation," Ryan said. "President Obama is part of the problem, and Mitt Romney is part of the solution. This is a record of failure. President Obama and too many like him in Washington have refused to make difficult decisions because they are more worried about the next election than they are about the next generation."

National debt, continued high unemployment and small businesses and entrepreneurship were among the major themes of his speech, in which he emphasized what's at stake in this election. "We are in a different and dangerous moment," Ryan said. "We're running out of time, and we can't afford four more years of this."

He also quoted his father, who died when Ryan was in high school: "Another thing my dad would say is every generation leaves their children better off. For the first time in our generation, we are on a path that would undo that legacy. It is our duty to save the American dream for our children and theirs.

"I hear some people say that this is just the new normal," he continued. "Higher unemployment, declining incomes and crushing debt is not the new normal. It is the result of misguided policies and, next January, will be the result of a comeback.

Early Saturday, the website went live. As of now, the website is mostly focused on a place to make donations and will give donors the opportunity to meet them.

At age 42, Paul Ryan is the first member of Generation X to serve on a national ticket.

With only 86 days until the election, both Romney and Ryan are expected to campaign throughout Virginia, a critical swing state, for the remainder of the day.

Check back for coverage on the 2012 election, and stick with Power Of 12 throughout the presidential election season.