Paul Ryan may be Barack Obama’s worst nightmare. On the day after Obama launched his re-election bid with a soft, ambiguous, and oddly passive ad imploring people to come to his rescue, Ryan and his team have released a sharp, focused three-minute video on his plan to rescue America from its looming debt and entitlement crises. Obama and his fellow Democrats have chosen not to lead for short-term political gain. Ryan fills the leadership vacuum in three minutes, explaining the nature of the crisis in easily-understood terms, and the solution to it — cutting spending. If we don’t do that now, the federal government will have to take nearly 50% of the American economy in 40 years to meet its obligations:

Graphs and charts are good, but usually a little dry. Ryan makes them come alive in this video, as much as possible at least, and tells a story to which most people can relate. The presentation would have included a look at economic growth for the next 40 years, but the computer models kept choking on the conditions caused by out-of-control spending and entitlements, and couldn’t project past 2037.

“We will cut spending,” Ryan promises, to save those programs that people value. Regarding those who keep offering Chip Diller “All Is Well!” reassurances, Ryan says, “Washington has not been telling you the truth.” Some suggested that Ryan needed to sideline this fight if Obama didn’t agree to lead on it, and that Ryan should not act to tell the truth. That’s not what leaders do — and by taking on this fight, Ryan has made the difference between himself and the current occupant of 1600 Pennsylvania Avenue clear.

Update: Geoff at Ace’s place says that Ryan’s plan is necessary — but not sufficient: