
Tampa, Florida (CNN) -- Paul Ryan energized the Republican National Convention with a powerful attack on President Barack Obama that championed conservative principles, setting the stage for Mitt Romney's defining speech on Thursday night to accept the party's presidential nomination.
In the biggest speech of his still young political career, the Republican vice presidential nominee told the party faithful and the American public that time is running out to solve the nation's fiscal problems, but the GOP ticket can do it if elected in November.
"We will not duck the tough issues -- we will lead," Ryan said in his prime-time address televised nationwide. "... The work ahead will be hard. These times demand the best of us -- all of us, but we can do this. We can do this. Together, we can do this."
Republicans at the Tampa Bay Times Forum punctuated Ryan's speech with frequent cheers and ovations, showing he delivered the kind of political red meat they craved as the campaign heads into the stretch drive with the race very close.
"He really did blow the  roof off this place," said CNN Chief Political Correspondent Candy  Crowley, labeling the performance "the tee-up for Mitt Romney tomorrow."
 
 Ryan's speech was part of  a campaign effort to portray Romney, a multimillionaire businessman and  former Massachusetts governor, as a champion of working-class Americans  who struggle with high unemployment and a sluggish post-recession  economy under Obama.
 Romney chose Ryan, the  conservative House Budget Committee chairman from Wisconsin, as his  running mate in hopes that the fiscal expert known for big and hard-line  ideas would galvanize support on the political right and appeal to  moderates and independents seeking solutions for the nation's chronic  deficit and debt problems.
 Ryan decried a dearth of  leadership under Obama and pledged results in keeping with the  convention theme for the day: "We Can Change It."
 "I accept the calling of  my generation to give our children the America that was given to us,  with opportunity for the young and security for the old, and I know that  we are ready," Ryan said. "Our nominee is sure ready. His whole life  has prepared him for this moment, to meet serious challenges in a  serious way, without excuses and idle words. After four years of getting  the runaround, America needs a turnaround, and the man for the job is  Gov. Mitt Romney."
 Focus on fiscal issues
 Ryan focused mostly on  the fiscal issues that are his strength, such as the national debt,  stimulus spending under Obama and his proposed Medicare reforms that  would partially privatize the government health care system for senior  citizens.
Obama and Democrats have  attacked the Ryan plan, and he sought to turn the tables on the issue  by repeating the factually challenged assertion that the president cut  Medicare by more than $700 billion to cover the costs of the 2010 health  care reform law passed by Democrats.
 The figure comes from a  July 24 Congressional Budget Office report that said repealing the  health care law, as called for by Romney and Ryan, would increase  spending on Medicare by $716 billion through 2022. At the same time, the  CBO letter said keeping what critics call "Obamacare" in place would  not mean a $716 billion decrease in Medicare spending, as claimed by  Ryan.
Independent  fact-checking organizations have rated the accusation first made by  Romney that Obama raided Medicare to pay for "Obamacare" as mostly  false. Ryan, however, said he and Romney welcomed the debate on how to  ensure the long-term solvency of the popular entitlement program that is  a key part of America's social safety net.
 His speech included some humorous jabs at Obama that drew laughs and ovations from a charged convention crowd.
 "With all their attack  ads, the president is just throwing away money, and he's pretty  experienced at that," Ryan said early in the speech. He also joked about  his running mate's musical tastes, chiding Romney for the "elevator  music" that reflected their generational gap.
 Later, Ryan received a  standing ovation when he asked: "Without a change in leadership, why  would the next four years be any different from the last four years?"
 He also peppered his  remarks with references to central government planning and control, code  words for socialism among the most conservative elements of the  Republican Party.
 "None of us should have  to settle for the best this administration offers, a dull, adventureless  journey from one entitlement to the next, a government-planned life, a  country where everything is free but us," he said.
 In the most emotional moment, Ryan paid tribute to his mother, who started her own business after his father died.
 "It was a new life, and  it transformed my mom from a widow in grief to a small businesswoman  whose happiness wasn't just in the past," Ryan said. "Her work gave her  hope. It made our family proud. And to this day, my mom is my role  model."
 In the VIP box of the  Tampa Bay Times Forum, Ryan's mother, Betty, stood and waved, and he  touched his heart with his hand while gazing at her.
 America's role in the world
 In other speeches  Wednesday night, Sens. Rand Paul of Kentucky and John McCain of Arizona  offered biting criticism of Obama's presidency, saying he was failing to  adhere to American values.
 Paul took aim at  domestic policies that he blamed for the country's debt now equaling its  economic production, calling Obama "uniquely unqualified to lead this  great nation."
 McCain, the Republican  presidential candidate defeated by Obama four years ago, targeted what  he called diminishing American power and influence around the world. He  accused Obama of abandoning freedom movements in Iran and Syria by not  supporting protesters trying to overthrow oppressive regimes, saying  "our president is not being true to our values."
 "We can choose to follow  a declining path, toward a future that is dimmer and more dangerous  than our past, or we can choose to reform our failing government,  revitalize our ailing economy, and renew the foundations of our power  and leadership in the world," said McCain, a consistent advocate for a  stronger military. "That is what's at stake in this election."
 Former Secretary of  State Condoleezza Rice added her voice to the call for American strength  through power, delivering a politically charged speech that accused  Obama of yielding the nation's leadership role in the world.
"It just has to be that  the freest and most compassionate country on the face of the Earth will  continue to be the most powerful," Rice said to cheers. She also made a  strong call for education reform, labeling the lack of successful  schools in impoverished areas the "civil rights issue" of our day.
 Romney and Republicans  contend that Obama's policies, such as stimulus spending, have worsened  an already bad economic situation the president inherited from the  previous GOP administration of President George W. Bush. They propose  traditional conservative policies to shrink government, cut taxes and  drastically reform entitlements, which they say will bring economic  growth and job creation.
 Obama and Democrats say  such prescriptions are failed policies of the past and call for  increased revenue sources such as higher taxes for wealthy Americans to  be part of a deficit reduction plan that includes some spending cuts and  entitlement reforms.
 "On almost every issue  (Romney) wants to go backwards, sometimes all the way to the last  century," Obama said Wednesday at a campaign event in Virginia.
 For Ryan, 42, the vice  presidential nomination and convention speech means an elevated national  profile after never having run a statewide race.
 The convention is  proceeding as Hurricane Isaac drenches the Gulf Coast after making  landfall in Louisiana on Tuesday night, the eve of the seven-year  anniversary of devastating Hurricane Katrina. The storm prompted  Republican organizers to postpone the first day of the convention, which  is a crucial opportunity for defining Romney to the American people.
 GOP officials pushed  ahead with a convention agenda designed to frame the election as a  referendum on Obama's presidency while attempting to turn Romney's  biggest political vulnerabilities into campaign advantages.
 Ryan's speech emphasized  that effort, concluding with a call for voters of all parties to "come  together for the sake of our country" by backing the Republican ticket.
 Romney clinched the GOP  nomination in the roll call of state delegates Tuesday after a rugged  Republican primary campaign that saw momentum swings nearly every week  and bitter attacks by GOP colleagues
 The 2,200-plus  convention delegates also approved a conservative platform that calls  for less government, opposes same-sex marriage and endorses a "human  life amendment" to ban abortion, with no specific exceptions for cases  of rape, incest or when the mother's life is threatened.
 Personal stories of hard work, success
 Romney and Ryan, who  also was endorsed by delegates Tuesday, will be formally nominated on  Thursday when Romney will deliver his acceptance speech to conclude the  convention and move the campaign toward the election.
 Throughout the  convention, speaker after speaker has emphasized his or her own humble  beginnings as descendants of immigrants who worked hard to achieve  success for their families and never expected government help or  handouts. Virtually every speaker took umbrage with Obama's comment on  the campaign trail that "you didn't build that" in reference to  successful businesses that received government help along the way.
On Tuesday night,  Romney's wife, Ann, faced a similar entry as Ryan into the full glare of  presidential media coverage with her own prime-time speech that  delivered a political broadside with a personal touch.
 She mixed homespun  anecdotes, such as repeated references to their first date, with  references to issues considered weaknesses for her husband, support from  women and his personal wealth, in encouraging Americans to get to know  the warm and loving man she met at a high school dance.
 "This was a political speech wrapped in velvet," CNN chief political analyst Gloria Borger commented.
 Ann Romney took on  another tricky political issue for her husband on Wednesday when she  addressed a Latino coalition and challenged the traditional support by  Hispanic-Americans for Democrats, including Obama.
 "I feel like my  importance in speaking out is making sure that those coalitions that  would naturally be voting for another party wake up and say you better  really look at the issues this time," she said. "You better really look  at your future and say who is going to be the guy who is going to make  it better for you and your children. And there is only one answer."
 For Romney, 65, the  nomination puts him within one step of the goal he first sought in 2007  by running for president after serving as a Republican governor for four  years in traditionally Democratic Massachusetts.
 Though rivals challenged  his conservative credentials in the 2012 primaries, Romney emerged  victorious. But he continues to walk a political tightrope in trying to  energize right-wing support while also appealing to moderates and  independent voters.
 The latest CNN/ORC  International poll indicates a dead heat between Romney and Obama, with  new numbers released Sunday showing that 53% of likely voters believe  Obama is more in touch with their needs, compared with 39% for Romney.
 Obama leads by an equal  margin when it comes to being in touch with the middle class, and six in  10 say Obama is in touch with the problems facing women today, with  just over three in 10 feeling the same way about Romney.
 Romney leads 48% to 44%  over Obama on managing the government effectively and has a 6-point  advantage on having a clear plan for fixing the nation's problems. Both  figures are within the survey's margin of error.
source: CNN