Paul Ryan loses bet, waves block of smoked Gouda at trade policy hearing

This is what happens when you lose a football bet.

Rep. Paul Ryan, R-Wisconsin, made a wager with Rep. Jim McDermott, D-Washington, pegged to the NFC Championship game between the Seahawks and Packers. And since the Packers lost, Ryan had to pay up on Tuesday during a meeting of the House Ways and Means Committee.

And he did, by waving around a hunk of smoked Gouda.