(Norfolk, VA) -- White House hopeful Mitt Romney has named Wisconsin Congressman Paul Ryan as his vice presidential running mate. Romney made the announcement Saturday morning to cheering crowds during a campaign stop in Norfolk, Virginia. Romney said Ryan is one of the intellectual leaders of the Republican party. He called Ryan a person of "great steadiness" whose integrity is unquestioned.

Ryan says he's "deeply honored and excited" to be tapped as Mitt Romney's running mate. Ryan is serving his 7th term in congress and holds a key post as chairman of the House Budget Committee. He's played a major role in drafting and promoting the Republican Party's long-term budget proposal. He is also a top member of the influential house Ways and Means Committee which holds jurisdiction over healthcare, trade laws, social security and tax policy.

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