Obama Welcomes Ryan to Race With Attack on Economic Policies

President explains his disagreement with GOP ideas during campaign speech.
3:00 | 08/12/12

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Transcript for Obama Welcomes Ryan to Race With Attack on Economic Policies
President obama weighing in on mitt romney's choice. Kind words and fighting words. David kerley tonight with that part of the story. David? Reporter: Good evening, david. I had did come out swinging but first he welcomed paul ryan to the race. He called him the ideological leader. I want to congratulate -- no, no, I want to the congratulate congressman ryan. I know him. I welcome him to the race. Congressman ryan is a decent man. He is a family man. Reporter: But mr. Obama quickly attacked what he called the top down romney/ryan They have tried this before. They have tried to sell us this trickle down fairy dust before and guess what? I did not work. Reporter: In chicago today, the number of mr. Obama's fund-raisers hit 200. But his first stop was campaig n headquarters where they plan for the next political landscape. And democrats bombarded the airways. And they called ryan radical, extreme. He wants to make medicare the center of the campaign. The president already has. It is a trojan house. Disguised as debt reduction plans is really an attempt to impose a radical vision on the country. Reporter: While the ryan pick has brought excitement and bigger crowds, they say it makes it hardener crucial state, among them, florida and ohio. Because talk of changing medicare could anger and motivate seniors. He is trying to move to the middle and ryan makes it almost impossible to do that. Ryan wants a voucher program for medicare. Some of the independents -- seniors. Reporter: Over the next three day, the president will campaign in one of the crucial state, iowa. There were five fund-raisers today, $6.5 million. By this time in his first term, george bush had only done 88 fund-raiser, david? David kerley at the white house tonight. David, thanks to you. Want to bring in abc's cokie roberts in the washington burrow tonight. Now they have a romney/ryan ticket. Does it make it easier? Does it ever? And you know the democrats have been running against the ryan budget for a couple years now. Ey have made paul ryan into something of a boogie man and used his proposals to, as they put it in medicare as we know and it congressional races and think think they have won a couple elections just by going after paul ryan and his budgets. They are dancing in the streets right now. On the flip side, we heard you this morning on "this week" saying paul ryan can address the budget with a smile on his face. He got some chuckles. That is an important point. Absolutely. He is a happy warrior and that is in the moll mold of ronald reagan and jack kemp. And that is why conservatives are excited. Is excitement now around the tout see them. And conservatives are just singing paul ryan's praises. This is a pick that obviously has its pluses as well as its minuses. All right, that to you, cokie.

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

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