Paul Ryan's speech at Norfolk, Virginia

Republican presidential candidate Mitt Romney said on Saturday he has chosen Congressman Paul Ryan as his vice presidential running mate, a move that will bring the debate over how to reduce government spending and debt to the forefront of the race for the White House.

Romney, the presumptive Republican nominee, announced that he has tapped the House of Representatives Budget Committee chairman at an event at the retired battleship USS Wisconsin - coincidentally named for Ryan's home state.

"His leadership begins with character and values. ... Paul Ryan works in Washington but his roots remain in Janesville, Wisconsin," Romney said.

View Paul Ryan's entire speech in Norfolk, Virginia in the video above.