Paul Ryan's RNC Speech: 'Obama's Moment Came and Went'

RNC 2012: Vice presidential candidate takes jabs at President Obama's spending habits, leadership.
3:00 | 08/29/12

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Transcript for Paul Ryan's RNC Speech: 'Obama's Moment Came and Went'
And I -- Okay. -- -- -- Big news. Mr. chairman. Mr. chairman. Delegates. And fellow citizens. I am honored by the support of this convention. For vice president of the United States. It. OK. -- I accept the duty. To help lead our nation out of a jobs crisis and back to prosperity. And I know we can do this. It. I accept the calling of my generation. To give our children the American -- was given to us with the opportunity for the young and security for the old. And I know that we are ready. Our nominee is sure ready. His whole life. His whole life prepared him for this moment. To meet serious challenges in a serious way. Without excuses and idle words. After four years of getting them run around. America needs a turnaround and the man for the job is governor Mitt Romney. And. On the newcomer to this campaign. So let me share of first impression. I have never seen opponents. -- silent about their record. And so desperate. To keep their power. They've run out of ideas. Their moment. Came and went. Fear and division. Is all they've got left. With -- -- attack ads. The president is just throwing away money. And he's pretty experienced at that. He's seen. Some people can't be dragged down by the usual cheap tactics. Because their character. Ability. And plain decency are so obvious. And ladies and gentlemen that is Mitt Romney. For my part. Your nomination is an unexpected turn. It certainly came as news my family. And -- like you meet them. My best friend and wife -- our daughter Liza and our boys Charlie and Sam. The kids are happy to see their grandma who lives in Florida there she is my mom Betty. My -- A small town lawyer was also named Paul. Until we lost him when I was sixteen. He was a gentle presence in my life. I like to think he'd be proud of me and my sister and Brothers. You know -- I'm sure proud of him and where I come from. Janesville Wisconsin. I live on the same block -- grew up. -- along the same parish where I was baptized. -- -- that kind of place. The people of Wisconsin have been good to me. I tried to live up to their trust. And now. I asked those hard working men and women. And millions like them across America. To join are causing get this country working again. When governor Romney asked me to join the ticket I said. Let's get this done. And that is exactly what we are going to do. President Barack Obama. Came to office during an economic crisis. As he has reminded us a timer to the those very tough days. In any fair measure of his record has to take that into account. My home state voted for President Obama. When he talked about change. Many people like the sound of it. Especially in Janesville. Where we are about to lose a major factory. A lot of guys that went to high school with worked -- they GM plant. Right there at that -- Candidate Obama said. I believe that if our government is there to support you this plan will be here for another hundred years. -- 372008. Well. Is it turned out. That plan didn't last another year. It is locked up an -- to this day. And that's how it isn't so many talents. We're the recovery that was promised is nowhere in sight. Right now. 23. Million men and women are struggling to find work. 43 million people. Unemployed or underemployed. Nearly one in six Americans is in poverty. Millions of young Americans have graduated from college during the Obama presidency. Ready to use -- gifts and get moving in life. Half of them. Can't find the work they studied for or any working at. Law. So here's a question. Without a change in leadership. Why would the next four years be any different from the last four years. The first troubling sign came with the stimulus. It was president Obama's first and best shot at fixing the economy. At a time when he he got everything he wanted under one party rule. It cost 831 billion dollars. The largest one time expenditure ever by our federal government. It went to companies like Solyndra. With their gold plated connections. Subsidize jobs and make believe markets. The stimulus was a case a political patronage. Corporate welfare. And cronyism and their worst. You. You the American people of this country we're cut out of the deal. What do taxpayers get out of the Obama stimulus. More debts. That money. Wasn't just spent and wasted. It was borrowed spent and wasted and maybe the greatest waste of all. Was time. Here we've ever. Faced with a massive job crisis. So -- That if everyone out of work stood in single file. Bad unemployment line would stretch the length of the entire American continent. You would think that any president whatever his party. Would make job creation and nothing else his first order of economic business. But this president didn't do that. -- steady. We got a long divisive. All or nothing attempt to put the federal government in charge of health care. Obama care. Comes to more than 2000 pages of rules mandates taxes. Fees and fines that have no place in a free country. Am. Feel like. The president has declared that the debate over government controlled health -- is over. That will come as news to the millions of Americans who elect Mitt Romney so we can repeal Obama care. In the biggest. Coldest power play a ball and Obama care. Came at the expense of the elderly. You see. Even with all the hidden taxes to pay for the health care takeover. Even with the new law and new taxes. A nearly a million small businesses. The players in Washington still didn't have enough money. They needed more. They needed. Hundreds of billions more. So they just took it all away from Medicare. 716. Billion dollars funneled out of Medicare by President Obama. An obligation we have -- our parents and grandparents is being sacrificed. All to pay for a new entitlement we didn't even ask for. The greatest threat to Medicare. Is Obama care and we -- going to stop it. In congress. When they take up the heavy books in the wall charts about Medicare. My thoughts go back to a house in Garfield street in Janesville. My wonderful -- and Janet. And alzheimer's. And she moved in with mom and me. -- she -- lost at times. We did all the little things that made her feel loved. We had help from Medicare. It was there just like is there for my mom today. Medicare is a promise. And we will onerous. A Romney -- administration will protect and strengthen Medicare for my mom's generation. For my generation and for my kids and doors. So our opponents can consider themselves on notice. In this election. On this issue. The usual posturing on the left it isn't going to work Mitt Romney and I know the difference between protecting a program and radiant. Ladies and gentlemen. Our nation needs this debate we want this debate. We will win this debate. Okay. Obama care. As much as anything else. Explains why a presidency. That -- that began with such anticipation. Now comes to such a disappointing close. It began with a financial crisis. It ends. With a job crisis. He began with a housing crisis they alone didn't cause. It ends with the housing crisis they didn't correct. It began with -- Perfect triple -- credit rating for the United States. It ends with a downgraded America. It all started off. Was stirring speeches Greek columns the thrill of something new. Now. All that's left. Is a presidency adrift. Surviving on slogans that already seemed tired. Grasping at a moment. That is already passed. Like a -- trying to sail on yesterday's wind. You know. President Obama. Was asked not long ago. To reflect in any mistakes he might have made. He said well. I haven't communicated enough. He said he's jobs and close. Tell a story to the American people. As if that's the whole problem here. He needs to talk more. And we need to be better listeners. Ladies and gentlemen these past four years. We have suffered no shortage of words in the White House. What is. -- M. A. -- And this story that Barack Obama does talent. Forever shifting blame to the last administration. Is getting old. The man assumed office almost four years ago isn't it about time. And he assumed responsibility. -- In this generation. A defining responsibility of government. Is to steer our nation clear of a -- crisis while there is still time. Back in 2008. Candidate Obama -- ten trillion dollar national debt unpatriotic. Serious talk from what looks like a serious reformer. Yet by his own decisions. President Obama has added more debt than any other president before him and more than all the -- governments of Europe combined. One presidents. One terror. Five trillion in new -- He created a new bipartisan. Debt commission. They came back with an urgent report. He -- them. Sent them on their way. And then did exactly. Nothing. Republicans. Republicans stepped up. With good -- reforms and solutions equal to the problems. Part of the president respond. By doing nothing. Nothing except -- dodge and demagogue the issue. So here we are. Sixteen trillion dollars in debt and still he does nothing. In Europe massive -- had put entire governments at risk of collapse. In steel he does nothing. In all we have heard from this president. And his team are attacks -- anyone who appears to point out the obvious. They have no answer. To this simple reality. We need to stop spending money we don't have. My dad used to say to me. Son you have a choice. You can be part of the problem. Or you can be part of the solution. The president illustration. Has made it's choices. And Mitt Romney and I have made hours. Before the math. In a moment -- overwhelm us all. We are going to solve this nation's economic problems. And I'm -- level with you. We don't have that much time. But if we are serious. In smarts and we -- We can do this. After four years of government trying to divide up the wealth. We will get America creating wealth again. Beside him. Men and women who create jobs. Hands than men and women who need jobs. My mom. Started a small business. In -- -- what it takes. Mom was fifty when my dad died. She got on a bus. Every weekday for years. And -- 40 miles each morning to Madison. She and her new degree and learn new skills to -- her small business. It wasn't just a new livelihood. He was a new life. In -- transform my mom. From a wiggling grief to a small business woman whose happiness wasn't just in the past. Her work gave her hope. It made our family proud. And to this day. My mom is my role model. Behind every small business. There's a story worth knowing. All of a corner shops -- towns and cities. The restaurants cleaners -- hair salons hardware stores. These didn't come out of nowhere. A lot of heart goes into each one. In a small business people say they made it on their own all they are saying. Is that nobody else worked seven days a week in their place. Nobody showed up in their -- -- when the door at 5 in the morning. Nobody did their thinking and worrying and sweating for them. After all that work in and a bad economy. It sure doesn't help to hear from their president that government gets the credit. What -- deserving here's the truth yes you -- -- Okay. We have a plan for a stronger middle class. With a goal of generating twelve million new jobs over the next four years. In a clean break in a clean break from -- bombing -- and frankly. From the years before this president. We will keep federal spending at 20% of GDP or less because that is -- not. The choice. The choice is whether to put hard limits and economic growth. Or hard limits on the size of government. And we choose to limit government. I learned a good deal but economics. In about America. From the author of the Reagan tax -- -- the great Jack Kemp. But. Gave Jack. That incredible enthusiasm was his belief in the possibilities of free people. In the power of free enterprise and strong communities to overcome poverty and despair. We need that same optimism right now. In our dealings with other nations. -- Romney -- administration we'll speak with confidence and clarity here. Whenever men and women -- rise up for their own freedom. They will know that the American president is on their side. The -- Instead. Instead of managing American decline. Leading allies to -- -- and adversaries to test us we will act in the conviction. That the United States is still the greatest force for peace and liberty that this world has ever known. I. Okay. President Obama. Is that kind of politician. Who puts promises on the record. And then calls that the record. But we're four years into this presidency. The issue is not the economy that Barack Obama inherited -- not the economy that he envisions. But this economy that we are leaving. College graduates should not have to live out their twenties in their childhood bed rooms staring up but fading Obama posters and wondering when -- I. Every one. Everyone who feels stuck in the Obama economy is right to focus on the here -- now. And I hope you understand this too. If your feeling left out -- passed by. You have not fail. -- -- leaders have failed you. None of us a. None of us. Should have to settle. For the best this administration offers. A dull it evangelist journey -- from one entitlement to the next. A government -- life. A country where everything is free but -- Listen to the way we are spoken -- already. As if everyone is stuck in some class or station in life. Victims of circumstances beyond our control. With the government there to help us cope with our -- It's the exact opposite. Of everything I learned growing up in Wisconsin or -- college in Ohio. It. When I was waiting tables. Washing dishes or mowing -- for money. I never thought of myself is stuck in some station in life. I was on my own -- my own adjournment in American journey. -- I could think for myself decide for myself. Define happiness for myself that's what we doing this country that Americans. In -- -- -- other central planners. -- themselves and. By themselves. The failures of one administration are not a mandate for a new administration. -- challenger. Must stand on his own merits. You must be ready and worthy to serve in the office of president. We're a full generation apart governor Romney and -- In some ways we're different. There are the songs and his iPod which I've heard on the campaign bus. And I've heard -- on many hotel elevators. He actually. He actually urged me to -- some -- -- -- -- campaign rallies I said look. I always how to deal breaker -- Well my playlist is started AC DC it -- -- zeppelin. -- a generation apart. A generation apart. But that doesn't matter it makes -- different. But not in any of the things that matter. Many Grammy night both grew up in the heartland. And we know what places like Wisconsin and Michigan look like when times. Like when times are good. When people are working. When families are doing more than just getting by. And we know what can be that way again. We've had very different careers mine mainly in public service is mostly -- -- private sector. He helped start businesses and turn around failing ones and by the way. Dean's success -- one business that's a good thing. Okay. Okay. I. Okay. -- -- is not only succeeded. But he succeeded where others could not he turned around the Olympics at a time -- a great institution was collapsing. Under the weight of bad management. Over spending and corruption. Sounds kind of familiar doesn't it -- He was the Republican governor of a state -- almost nine in ten legislators are Democrats. And yet. He balanced the budget without raising taxes. Unemployment went down. Household incomes went up and Massachusetts under governor Mitt Romney -- its credit rating upgraded. -- -- nine also go to different churches. But in any church. The best kind of preaching. Is done by example. And -- and watching that example. The man who'll accept your nomination tomorrow is -- And faithful. And honorable. Not only a defender of marriage he exam he offers an example of marriage at its best. Not only a fine this -- man. He's a fine man. Worthy of leading this optimistic in good hearted country. Our face come together. In the same moral creed. We believe. That in every life there is goodness. For every person there is hope. Each one of us. Was made for a reason. Bearing the image and likeness of the lord of life. I. We have responsibilities. One to another. We do not each face the world alone. In the greatest of all responsibilities. Is that of the strong to protect the weak the truest measure of any society. Is how it treats those. Who cannot defend or care for themselves. Each of these moral ideas. Each of these moral ideas is essential to democratic government to the rule of law. To life in a humane and decent society. The other moral creed of our country. As powerful -- -- time. Is on the day of America's founding. They are self evident in unchanging. And sometimes. Even presidents need reminding. That our rights come from nature and god and not from -- The new generation secure those rights for us. And in every generation since the best among us have defended our freedoms they are protecting us right now. We honor them and all of our veterans and we think them. I. The rights. That makes all the difference now. Is the right to choose our own leaders. And you. Are entitled. To the clearest. Possible choice. Because the time for choosing is drawing near. So here is our pledge. We will not duck the tough species we believe. We will not spend the next four years blaming others we will take responsibility. It. We will not try to replace our founding principles. We will re apply our founding principles. -- together. We can. This country working again. This economy growing again. We can make the safety net safe again. Can do this. Whatever your political party list on the -- for the sake of our country. -- -- -- Okay. I.

This transcript has been automatically generated and may not be 100% accurate.

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