Paul Ryan Endorses Romney for President: 'Important We Coalesce as Conservatives

Rep. Paul Ryan (R-Wis.) formally threw his support behind Mitt Romney for president Friday morning, saying the former Massachusetts governor has the "skills, tenacity, courage and integrity to do what it takes to get America back on track."

Ryan -- whose home state of Wisconsin goes to the polls April 3 -- said during an appearance on Fox News that he based his decision on two criteria: Who would make the best president and who has the best chance of defeating President Barack Obama.

"Mitt Romney is clearly that person," Ryan said.

The chairman of the House Budget committee, Ryan added he thinks the primary process has been productive thus far, but is approaching a critical point.

“The more we drag it out, the harder it’ll be to win in November,” Ryan said. “That’s why I think it’s important we coalesce as conservatives and focus on the big task at hand which is defeating Barack Obama in the fall.”

Ryan's is the third high-profile endorsement Romney picked up this week: Former President George H.W. Bush and Republican Florida Sen. Marco Rubio have both formally backed him.