The wait is over. Republican presidential candidate Mitt Romney announces Wisconsin Senator Paul Ryan as his running mate. But, as YNN's Grace Rauh tells us, the Romney-Ryan ticket got off to a rough start.

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NORFOLK, Va. -- "Join me in welcoming the next President of the United States, Paul Ryan," said GOP nominee Mitt Romney in an announcement on Saturday morning.

That was certainly a high profile flub at a large announcement, but the Republican candidate quickly recovered.

"Every now and then I am known to make a mistake, but I did not make a mistake with this guy. I can tell you this, he is going to be the next Vice President of the United States," said Romney.

Wisconsin Congressman Paul Ryan is a rising star in Republican politics. He is best known for his budget plans to cut federal spending and overhaul Medicare. Romney's decision is to select him as his running mat shakes up the presidential contest. And it is likely a sign that Romney hopes Ryan's conservative fiscal credentials will energize the Republican base.

Ryan immediately went after the team's November target.

"President Obama and too many like him in Washington, have refused to make difficult decisions because they are more worried about their next election than they are about the next generation," said Paul Ryan, (R) Vice Presidential Candidate.

Unlike Romney, who spent most of his career in the private sector, Ryan is a creature of Washington. He is now 42, and was first elected to Congress at 28. He is known as a prodigious fundraiser, and is married with three children.

Romney said, "I don't know anyone who doesn't respect his character and judgment."

Ryan's details budget proposals may be a mixed bag for the campaign. On one hand, they clearly show the electorate where he stands, but his plans can be picked apart by the opposition and used against him. Either way, they have already made him into somewhat of a lightning rod.

"This is the worst economic recovery in 70 years. Whatever the explanations, whatever the excused, this is a record of failure," Ryan said.

A spokesman for President Obama's campaign fired back saying that Ryan rubber stamped policies that exploded the deficit and crashed the economy. One thing is for sure though, by selecting Ryan, Romney is putting the economy and the deficit front and center in this campaign.