Next Gen News

Here's the Guardian's coverage of Obama's speech today:

10.11am:

The Joint Committee plan significantly reduces deficits and puts the country on a fiscally sustainable path by 2017.

- bulk of cuts coming from ending military operations in Iraq and Afghanistan ($1.1tn), and savings on interest payments ($430bn).

Meanwhile, my colleague Dominic Rushe forwards reaction from the Tea Party Nation:

The "Jimmy Buffett rule" would however involve hefty taxes on cheeseburgers eaten in paradise, and increased duty on salt.

Both sides agree that deficit reduction of $4tn is needed - but that the opposition won't share the burden and pay their fare share. "This is not class warfare. It's math," says Obama, getting a brief laugh.

Unfortunately, the president has not made a serious contribution to its work today. This administration's insistence on raising taxes on job creators and its reluctance to take the steps necessary to strengthen our entitlement programs are the reasons the president and I were not able to reach an agreement previously, and it is evident today that these barriers remain.

Here it is on page 28 of the full document:

A new opinion poll on the Republican race from USA Today and Gallup shows Rick Perry still in the lead, Mitt Romney doing better, and Michele Bachmann fading away.

4pm:

Congressional reporter Jamie Dupree has been reading the fine-print of Obama's deficit reduction plan so you don't have to, all 80 pages of it.

5pm: