In the wake of Mitt Romney's horrible mishandling of last night's deadly attacks on U.S. diplomats in Libya and Egypt, many Americans are wondering if the millionaire Mormon is really presidential material. Now comes news that even Romney's running mate, Paul Ryan, has been hedging his bets against a loss in November.

According to a new report from the Associated Press, Paul Ryan intends to spend $2 million between now and Election Day to buy TV ads—not for his Romney-led run for the White House, but for an eighth congressional term.

Contracts formalized Tuesday with at least one Milwaukee television station show that Ryan's congressional ads will start airing Wednesday morning and go initially for two weeks. The Ryan congressional ads start in the same week as presidential ticket mate Mitt Romney's commercials went on air in Wisconsin, although the cost for the two sets of ads are drawn from different campaign accounts.

Wisconsin law allows Ryan to seek both offices simultaneously but only serve in one if he wins the pair.

With Romney now behind President Obama by as much as six points in some polls—and that's before today's blunder—Ryan may be right to not let his House campaign go to seed just yet.

[Image via AP]