Republican candidate for President Mitt Romney today announced Congressman Paul Ryan of Wisconsin to be his vice-presidential running mate for the November election.

From CNN:

Richmond, Virginia (CNN) — Mitt Romney on Saturday officially announced U.S. Rep. Paul Ryan of Wisconsin — considered a rising Republican star and the party’s leader on fiscal and budgetary issues — as his running mate in the presidential race.

Ryan, appearing at the beginning of a four-day, four-state bus tour in Norfolk, Virginia, moved quickly to position himself and Romney, the presumptive Republican presidential nominee, as champions of voters dissatisfied with the economy.

“I represent a part of America that includes inner cities, rural areas, suburbs and factory towns,” he said Saturday morning, the U.S.S. Wisconsin in the backdrop. “Over the years I have seen and heard from a lot of families, from a lot of those running small businesses, and from people who are in need. But what I have heard lately, that’s what troubles me the most. There is something different in their voice and in their words. What I hear from them are diminished dreams, lowered expectations, uncertain futures.

“I hear some people say that this is just ‘the new normal.’ Higher unemployment, declining incomes and crushing debt is not a new normal. It’s the result of misguided policies. And next January, our economy will begin a comeback with the Romney plan for a stronger middle class that will lead to more jobs and more take-home pay for working Americans.”

GOP sources told CNN on Friday that Sen. Marco Rubio of Florida, former Minnesota Gov. Tim Pawlenty and Sen. Rob Portman of Ohio had all been told that they were not getting the nod.

You may remember Congressman Ryan dissecting Tim Geithner on the economy: