Paul Ryan
Paul Ryan's newest budget aims to balance the federal budget in 10 years. Reuters

While Paul Ryan will not be the Vice President of the United States of America, he will be continuing his political career. Ryan won re-election in his home state of Wisconsin.

The news is bittersweet for Ryan who will most likely be celebrating when all is said and done. Mitt Romney lost the presidential election, and Ryan will not be serving as Vice President for the next four years but he will continue to serve America as a Republican member of the House of Representatives. Ryan has held his U.S. House of Representatives seat since 1998, according to the Associated Press.

Ryan was running against Democrat Rob Zerban and Libertarian candidate Keith Deschler for southeast Wisconsin's 1st District. Ryan's re-election was rarely in doubt as the Republican is not only well liked in his party, he is also considered to be a future Presidential candidate. Ryan, as a congressman, was the chair of the House Budget Committee and drafted the budget and economic plan that gained national attention during Mitt Romney's campaign for President. Part of Ryan's plan would turn Medicare into a voucher program, reports AP.

In 2010, Ryan helped write the memo, “Young Guns: A New Generation of Conservative Leaders” alongside Virginia representative Eric Cantor and Majority Whip of the House of Representatives Kevin McCarthy, further establishing himself as a future force within the Republican party, reports Reuters.

While Ryan did not have a lot of time to campaign, he did make his presence known in Wisconsin and raised $4.9 million for his re-election bid. Zerban was only able to raise $2.1 million. In between campaigning with Romney, Ryan was able to attend rallies and fundraisers in Wisconsin, notes AP. Zerban is a Wisconsin businessman and was hoping that the intense spotlight on Ryan as well as Zerban's entrepreneurial experience would tip the scales in his favor. That would not be the case as Ryan won with 55 percent of the vote, reports CNN.

While Ryan will resume his duties as chairman, for now, he is planning to take some time off. In a statement, Ryan said “I look forward to spending some time with my family in the coming days and then continuing my responsibilities as chairman of the House Budget Committee and representative of Wisconsin’s First Congressional District.”