House Minority Leader Nancy Pelosi (Calif.) said Sunday that Democrats have a "very excellent chance" to retake the House majority in November, and characterized the day Republican Mitt Romney selected Rep. Paul Ryan (Wis.) as his vice presidential running mate as a "pivotal" one in the campaign.

"The issues are with us," Pelosi said in an interview broadcast Sunday morning on CNN's "State of the Union." She pointed to Ryan's budget proposal that revamps Medicare into a voucher program for Americans currently 55 and under as a major focal point in the battle for the House majority and a reason for Democratic optimism.

Democrats need to net 25 seats to win back the majority. Pelosi, whose served as House speaker during the last Congress in which Democrats were in the majority declined to say Sunday whether she would run for House Democratic leader if her party falls short of taking back the majority.

"I don't ever predicate anything on losing," Pelosi said.