Confirmed: Paul Ryan not running for president in 2012

Chris Moody

Paul Ryan, the Wisconsin Republican who is the chairman of the House budget committee, will not run for president in 2012, according to a statement released by his office Monday.

"I sincerely appreciate the support from those eager to chart a brighter future for the next generation.  While humbled by the encouragement, I have not changed my mind, and therefore I am not seeking our party's nomination for President.  I remain hopeful that our party will nominate a candidate committed to a pro-growth agenda of reform that restores the promise and prosperity of our exceptional nation," Ryan's statement read. "I remain grateful to those I serve in Southern Wisconsin for the unique opportunity to advance this effort in Congress."

The announcement was first reported by the Stephen Hayes of the Weekly Standard magazine, which for weeks has been reporting rumors that Ryan was considering a run for the White House.