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 Here's live video of the announcement, expected to begin any moment:

6:05 AM PT:
Under the definition of "job" Romney has used against Obama, has Ryan ever held one?
@ron_fournier via TweetDeck
6:05 AM PT:
Seriously: if Mitt picked Ryan on Aug 1, it means he really believes best time to announce pick is middle of hte night on Friday.
@emptywheel via TweetDeck
6:08 AM PT:
My colleague Brianna Keilar reporting WH "salivating" over Ryan pick.  Oh my...
@jimacostacnn via Twitter for iPhone
6:09 AM PT:
"The reason I got involved in public service, by and large, if I had to credit one thinker, one person, it would be Ayn Rand." -Paul Ryan
@nycsouthpaw via TweetDeck

6:10 AM PT: Virginia Gov. Bob McDonnell (R-Ultrasound) has just taken the stage. He'll be announcing Romney, I think, and then Romney will officially announce Paul RyanThe Committee to End Medicare.

6:12 AM PT: Here's excerpts from Ryan's remarks.

6:15 AM PT: One line jumps out: "For the last 14 years, I have proudly represented Wisconsin in Congress." Ryan is 42. He's served in Congress for more than half of his adult life. And he's only 42.

6:16 AM PT: This is an odd tidbit:

.@SenJohnMcCain had been asked to be w/Romney at USS Wisconsin to talk defense but before VP news campaign  canceled "last minute"
@KellyO via Twitter for iPad

6:17 AM PT: Actually, maybe the McCain thing was just a decoy—basically filler for the schedule to help prevent the leak of the Ryan news.

6:18 AM PT: Good lord, McDonnell is longwinded. Really showing why he would have been a bad pick on every sort of level.

6:19 AM PT: Paul Ryan has been getting government health care for two decades and from all appearances he is very healthy. Just saying.

6:20 AM PT: Mitt Romney emerges from a portal on the USS Wisconsin, walks down a flight of stairs, and takes to the podium. He's wearing a tie and rolled up sleeves. No jacket.

6:21 AM PT: Mitt on McDonnell. "What a terrific man and a terrific leader. Way to go!" Then: "It's great to be back here in Virginia." Avoids saying Norfolk is a city of the right sea level.

6:22 AM PT: "It's an honor to announcemy running mate and the next vice president of the United States, Paul Ryan. His leadership begins with character and values." Talks about the death of Ryan's father in high school. "Paul Ryan works in Washington, but his beliefs remain firmly rooted in Janesville, Wisconsin."

6:23 AM PT:
Remarkable point first made by @maggiepolitico last night: Ryan choice positions Romney further right in general than in primaries
@JohnJHarwood via Twitter for BlackBerry®

6:24 AM PT: Mitt goes on a rhetorical detour about how it's possible to disagree without being disagreeable. How you can criticize someone's ideas without attacking their character. It came off like a reprise of his "don't attack me" comments from yesterday, however.

6:25 AM PT: Obama statement on Ryan highlights the Romney-Ryan plan to end Medicare as we know it, adding: "As a member of Congress, Ryan rubber-stamped the reckless Bush economic policies that exploded our deficit and crashed our economy. Now the Romney-Ryan ticket would take us back by repeating the same, catastrophic mistakes."

6:27 AM PT: LOL. Romney says that "unlike the current president, we will protect" Medicare and Social Security. Wanna' bet $10K on that, Mitt?

6:28 AM PT: Hahaha. Romney says: "At a time when the president is taking American politics to new lows." As he pauses to complete his sentence, some guy yells out: "Obamaloney!" Hahaha. Talk about new lows!

6:29 AM PT: Paul Ryan runs onto the stage. He's wearing a jacket, no tie.

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