ABC's Emily Friedman and Zach Wolf report:

An upside for Mitt Romney in selecting Wisconsin Rep. Paul Ryan as his running mate is that he ignites a real excitement among budget-minded conservatives.

That excitement was clear Saturday when, according to Romney spokeswoman Andrea Saul, the campaign raised $1.2 million in just the four hours after announcing Ryan as running mate.

Romney has eclipsed President Obama in fundraising in the months since clinching the GOP nomination, although Obama, who has been raising money for his entire presidency, still has more cash on hand.