Ryan attacked Obama for ignoring the recommendations of the Simpson-Bowles debt commission:

"He created a bipartisan debt commission. They came back with an urgent report. He thanked them, sent them on their way, and then did exactly nothing."

Guess who the leading Republican budget wonk on that commission was? Yes, Paul Ryan. When “the urgent report” came up for a vote, Ryan voted against it.

- Paul Ryan’s speech in 3 words: Dazzling, Deceiving and Distracting. To anyone paying the slightest bit of attention to facts, Ryan’s speech was an apparent attempt to set the world record for the greatest number of blatant lies and misrepresentations slipped into a single political speech. On this measure, while it was Romney who ran the Olympics, Ryan earned the gold.

The good news is that the Romney-Ryan campaign has likely created dozens of new jobs among the legions of additional fact checkers that media outlets are rushing to hire to sift through the mountain of cow dung that flowed from Ryan’s mouth. Said fact checkers have already condemned certain arguments that Ryan still irresponsibly repeated.

Fact: While Ryan tried to pin the downgrade of the United States’ credit rating on spending under President Obama, the credit rating was actually downgraded because Republicans threatened not to raise the debt ceiling.

Fact: While Ryan blamed President Obama for the shut down of a GM plant in Janesville, Wisconsin, the plant was actually closed under President George W. Bush. Ryan actually asked for federal spending to save the plant, while Romney has criticized the auto industry bailout that President Obama ultimately enacted to prevent other plants from closing.

Fact: Though Ryan insisted that President Obama wants to give all the credit for private sector success to government, that isn't what the president said. Period.

Fact: Though Paul Ryan accused President Obama of taking $716 billion out of Medicare, the fact is that that amount was savings in Medicare reimbursement rates (which, incidentally, save Medicare recipients out-of-pocket costs, too) and Ryan himself embraced these savings in his budget plan.

"More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011. Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon."

Consider the price increases in the commodities market from the beginning of 2009 to today:

Heating Oil +155%
Gasoline +195%
Natural Gas -45%
Wheat +100%
Soybeans +72%
Corn +114%
Cotton +7%
Cattle +43%
Sugar +60%
Coffee +31%
Orange Juice +56%