Mitt Romney's campaign has announced that the presumptive GOP nominee has chosen House Budget Committee Chairman Paul Ryan as his vice-presidential running mate.  The two candidates will appear together at a campaign event in Norfolk, VA Saturday morning.

The official announcement will be in front of the U.S.S. Wisconsin -- which just happens to be Ryan's home state.

After three sources close to the Romney campaign indicated to NBC News late Friday night that Ryan would be the pick, the Romney camp issued a press release just after 7:00 am ET, stating: “Mitt Romney & Paul Ryan: America’s Comeback Team.” Around the same time, the campaign’s “VP app” also announced that Ryan would be the choice.

The Romney campaign billed the ticket "America's comeback team" in the release announcing the decision, saying that Ryan "has worked tirelessly leading the effort to reign in federal spending and increase accountability to taxpayers."

With recent national polls showing Romney trailing President Barack Obama, Ryan is a bold pick. He will excite economic conservatives, and is considered one of his party's rising stars.