BREAKING: Paul Ryan is Mitt Romney's VP Pick

Mitt Romney announced Rep. Paul Ryan (R-Janesville) as his Vice Presidential running mate this morning, according to a press release from the campaign Saturday.

Ryan, who is in his seventh term in Congress, represents Wisconsin's First Congressional District in the southeastern corner of the state. He is Chairman of the House Budget Committee and serves on the House Ways and Means Committee.

In January 2010, Ryan gained attention nationwide after unveiling his “Roadmap for America’s Future.”

Romney is set to formally make the announcement in Norfolk, VA at 8 a.m. Central time. Ahead of the announcement, the campaign has released excerpts of Ryan's prepared remarks.

"Following four years of failed leadership, the hopes of our country, which have inspired the world, are growing dim; and they need someone to revive them. Governor Romney is the man for this moment; and he and I share one commitment: we will restore the dreams and greatness of this country."

Romney's pick is seen by national politicos as a risky pick, compared to former Minnesota governor Tim Pawlenty and Ohio Sen. Rob Portman, the other two potential candidates on his VP short list.

Ryan was born in Janesville, Wisconsin on January 29, 1970. A fifth-generation Wisconsin native, Ryan was the youngest of four children born to Paul Ryan Sr., who worked as an attorney, and Betty, a stay-at-home mom.

In April 2000, Ryan proposed to Janna Little, a native Oklahoman, at one of his favorite fishing spots, Big St. Germain Lake in Wisconsin. Later that year, the two were married in Oklahoma City.

The Ryans reside in Janesville with their three children, Liza, Charlie and Sam. The family are parishioners at St. John Vianney Catholic Church, according to the release.

Upon entering Congress in January of 1999, Ryan was the youngest member of the freshmen class at the age of 28. Prior to running for Congress, Ryan served as an aide to Republican Senators Robert Kasten Jr. and Sam Brownback, former U.S. Rep. and Vice Presidential Candidate Jack Kemp, and as a speechwriter for Education Secretary William Bennett, according to the release.

Ryan is a graduate of Joseph A. Craig High School in Janesville and earned degrees in economics and political science from Miami University in Ohio.  He is an avid outdoorsman and is a member is of his local archery association, the Janesville Bowmen, according to the release.

An official announcement is expected at 8 a.m. central time in Norfolk, VA, reports Newsday. 

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