Rep. Paul Ryan’s speech today at the Economic Club of Chicago should remind Republicans exactly what they need—but haven’t seen yet—from the current crop of presidential candidates.

Ryan’s speech was two things: a bold defense of his plan to tackle the deficit, and a broader philosophical argument for conservative economic policies.

The congressman was also unapologetic in his criticism of President Obama’s deficit plan. “Class warfare may be clever politics, but it is terrible economics,” Ryan said. “Redistributing wealth never creates more of it. Further, the math is clear—the government cannot close its enormous fiscal gap simply by taxing the rich.”

There’s another aspect of Ryan’s style that voters are likely eager for in 2012. Even though he doesn’t gloss over the seriousness of the deficit problem, he still manages to keep his tone optimistic.

“America was knocked down by a recession,” he said. “We are threatened by a rising tide of debt. But we are not knocked out. We are America. And it is time to prove the doubters wrong once more—to show them that this exceptional nation is once again up to the challenge.”

His speech was clearly targeted at a broader issue than his deficit plan. Ryan knows that it will be difficult, if not impossible, for him to succeed with all of his legislative proposals as long as President Obama is in office. But he is also creating an atmosphere in which Republican presidential candidates will be able to make a serious and sweeping case for conservative economic policies. Now the GOP just needs a candidate who is willing to make this case as unapologetically as Ryan.