At a campaign event in Glen Allen, Virginia on Friday, Republican vice presidential candidate Paul Ryan said that Mitt Romney, who founded Bain Capital, had proven he knew that small businesses were the backbone of the American economy because he had started "small businesses" himself.

"[Mitt Romney] has proven, through starting up small businesses, through turning around struggling businesses, through creating businesses we all know -- Sports Authority, Bright Horizons, Staples -- this is a person who is living proof, and experience, that knows that if you have a small business, you built that small business. That's the backbone of our economy."

(h/t: Daily Kos)