Mitt Romney and Paul Ryan’s big idea

Mitt Romney has broken the habit of a lifetime and taken a risk. But it’s an intelligent risk. That at least is the view of some commentators on hearing confirmation that Romney has appointed Paul Ryan as his running mate. Niall Ferguson tweeted earlier:

‘Romney gets it right with Ryan. Now this election gets serious. It’s a straight fight between radical fiscal reform and Europeanization.’

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David Frum makes a similar point (albeit with a clear note of scepticism) in a blog post for the Daily Beast:

‘This election—which Romney once intended to make a referendum on Obama’s record—will now become a referendum on Paul Ryan’s bold budget ideas.’

Frum provides 5 hypotheses on the appointment. Essentially, in Frum’s view, Romney has either come to accept Ryan’s analysis, or his hand has been forced by the right and his donors.