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Mitt Romney's campaign confirmed this morning that Romney has selected Rep. Paul Ryan, R-WI, to be his running mate.

As news broke of Romney's choice late Friday night, Minnesota GOP insiders welcomed the choice because Ryan is a fiscal hawk who has called for dramatic action to reduce the federal deficit.

Democrats are also pleased with Romney's choice because Ryan's budget plan relied on deep spending cuts to programs popular with liberals to reduce the deficit. The Obama campaign will use the Ryan budget cuts, which would have targeted social safety net programs important to the poor and elderly among others, to contrast its own commitment to preserve those programs.

Another plus: Picking Ryan may help Romney win Wisconsin, which looks to be competitive in this year's presidential race.

"[Ryan's] leadership begins with character and values," Romney said during his speech to introduce his new vice president.

"He doesn't demonize his opponent. He understands that honorable people can have honest differences," Romney went on.

Ryan's debut speech focused heavily on the nation's financial woes, and said that Romney's presidency would put the country back on the right track.

"We are in a different and dangerous moment," Ryan said. "We're running out of time and we can't afford four more years of this."

"Higher unemployment, declining incomes and crushing debt is not the new normal," he said.

Romney's choice means former Gov. Tim Pawlenty has been passed over a second time to be on a presidential ticket. Romney was reportedly seriously considering Pawlenty this year. McCain picked Sarah Palin over Pawlenty in 2008. For his part, Pawlenty 

said he's not disappointed that he isn't the pick

Pawlenty will be campaigning in New Hampshire for Romney today, and will make appearances Sunday on NBC's Meet the Press and ABC's This Week.

We will update this post throughout the morning as we get reaction from Minnesota's political insiders.

Minnesota's Republican Party Chair Pat Shortridge, who served as a campaign consultant to Ryan, issued this reaction to Romney's announcement, saying that Ryan is a "friend I've known for two decades and I couldn't be happier for him and his family."

Shortridge lauded Ryan's budgeting experience:

Pawlenty issued this statement on Romney's decision to pick Ryan:

President Obama's campaign was quick to attack Ryan's record on the budget.

Obama's campaign manager Jim Messina issued this statement:

DFL Party Chair Ken Martin issued this statement:

Second Congressional District Rep. John Kline wrote:

Fifth Congressional District Rep. Keith Ellison, a Democrat, said that by adding Ryan to the ticket, Romney is "doubling down on failed Republican policies that drove our nation into the worst recession since the Great Depression."

GOP state Rep. Kurt Bills, who is challenging Sen. Amy Klobuchar for her U.S. Senate seat, made the following statement:

Sixth Congressional District Rep. Michele Bachmann wrote:

"Today, Mitt Romney cemented his vision for America as the economic leader in the world. Paul Ryan's leadership in Congress and his boldness to deal with our financial problems is exactly what Americans want to hear. More importantly, Ryan's boldness is exactly what America needs. Since 2008, uncertainty has plagued employers, families and our economy and the Obama-Biden ticket has failed to realize the depth of the situation."

DFL Rep. Keith Ellison, who represents Minnesota's Fifth Congressional District, said Romney's decision to pick Ryan means Romney is "doubling down on failed Republican policies that drove our nation into the worst recession since the Great Depression."

Eight Congressional District Rep. Chip Cravaack posted this comment on Twitter:

Republican Party of Minnesota Deputy chair Kelly Fenton wrote:

First Congressional District GOP hopeful Allen Quist wrote:

Mike Parry is also hoping to run on the GOP ticket in the 1st CD.

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Catharine Richert

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Pawlenty to campaign for Romney in New Hampshire today

Minnesota politicos react to Romney’s Ryan pick

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