UPDATE 8 a.m.
NORFOLK, Va. (AP) -- Appearing for the first time as Mitt Romney's running mate, Wisconsin Rep. Paul Ryan is attacking President Barack Obama for what he calls a "record of failure."
The seven-term congressman says Obama has led the "worst economic recovery in 70 years." He notes that unemployment has been above 8 percent for more than three years -- the longest stretch since the Great Depression.
He spoke in remarks prepared for delivery at the first public appearance of the new GOP ticket.
Ryan, the architect of a controversial budget plan, is promising not to "duck the tough issues." And he says he has the courage to tell the truth.
UPDATE 6:30 a.m.
NORFOLK, Va. (AP) -- Republican presidential candidate Mitt Romney has selected Wisconsin Rep. Paul Ryan to be his running mate.
The candidate made his announcement to supporters via a phone app, saying -- quote -- "Mitt's Choice for VP is Paul Ryan." The GOP ticket was set to appear together at 9 A.M. Eastern in Norfolk, Va.
Romney and Ryan are kicking off a four-day bus tour that will take them to as many states.
At 42, Ryan is a generation younger than the 65-year-old Romney.
UPDATE: 12:08 a.m.
NORFOLK, Va. (AP) -- Republican presidential candidate Mitt Romney has picked Wisconsin congressman Paul Ryan to be his running mate.
A Republican with knowledge of the situation tells The Associated Press that Romney has chosen Ryan. The Republican spoke on condition of anonymity because this person was not authorized to disclose the decision.
Romney was expected to introduce Ryan during a rally Saturday morning in Norfolk, Va
UPDATE: 11:50 p.m.
Mitt Romney will announce his running mate at 8am Saturday Morning, after touring the U.S.S. Wisconsin. Multiple news outlets are reporting Wisconsin Rep. Paul Ryan is Romney's pick.
NBC News and Fox News are among those reporting they've learned Ryan is Romney's choice for his running mate for Vice President.
Ryan, who is from Janesville, is serving his 7th term in Wisconsin's 1st Congressional District. Republicans have touted his "Path to Prosperity", an alternative to Barack Obama's 2013 Budget.
Other names on the 'short list' were believed to include Ohio Rep. Rob Portman and former Minnesota Gov. Tim Pawlenty.
In a statement issued Friday night, the Romney campaign said the running mate would be revealed at 8 a.m. at the Nauticus Museum. Romney is kicking off a four-day bus tour through swing states.
Romney's choice comes as he tries to repair an image damaged by negative Democratic advertising and shift the trajectory of a campaign that's seen him lose ground to President Barack Obama.
Stay tuned to wsaw.com for the latest on this developing story.
The Associated Press contributed to this report.