Ryan: "This is the one that counts"

U.S. Rep. Paul Ryan told the crowd that the fall election will determine whether the 21st century will be considered "a great American century."

"This is a transformative time," Ryan said. "This is the one that counts."

Ryan said the country faces the three challenges of globalization, Islamic radicalism, and a "crushing" tax burden.

"This is not just a few angry radicals waging Jihad," Ryan said regarding terrorism. "You do not win this by playing defense."

Ryan added a host of taxes set to return during the next presidential term, and described the new taxes propsed by Rep. Charlie Rangel, they chairman of Ryan's House Ways and Means committee.

"They're confident enough to say this to the American people," Ryan said of the Democrats. "This is the engine of economic growth they're trying to stall."

Listen to Ryan's speech here.

-- By Andy Szal