We propose, analyze and numerically illustrate a photonic-based technique for waveform generation of electrical signals approaching the 50 GHz bandwidth with time apertures as large as a few nanoseconds, by low-frequency, up to 2 GHz, electro-optic phase modulation of time-stretched optical pulses. Synthesis of the electrical waveform relies on phase-to-amplitude conversion of the modulated signal by a group delay dispersion circuit designed to behave as a transversal filter with N taps. Although arbitrary waveform generation capabilities are limited, a wide variety of user-defined signals are numerically demonstrated by appropriately designing the low-frequency signal driving the electro-optical modulator. Frequency upshifting is controlled by the chirp of the stretched pulse which provides an additional degree of freedom. Finally, optical-to-electrical conversion allows for the user-defined electrical waveform. Simulations are given for square waveform generation demonstrating the high resolution and wide-band capabilities of the technique.