The Note’s Must-Reads are a round-up of today’s political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at www.abcnews.com

Compiled by ABC News Digital News Associates Jayce Henderson, Jacqueline Fernandez and Desk Assistant Amanda VanAllen

PRESIDENT OBAMA / DEFICIT / MEDICARE: The New York Times’ Helene Cooper: “ Obama Plan to Cut Deficit Trim Spending by $3 Trillion” President Obama will unveil a deficit-reduction plan on Monday that uses entitlement cuts, tax increases and war savings to reduce government spending by more than $3 trillion over the next 10 years, administration officials said. LINK

The Washington Post’s Zachary Goldfarb: “ Obama’s debt-reduction plan: $3 trillion in savings, half from new tax revenue” President Obama will announce a proposal on Monday to tame the nation’s rocketing federal debt, calling for $1.5 trillion in new revenue as part of a plan to find more than $3 trillion in budget savings over a decade, senior administration officials said. LINK

The Hill’s Sam Baker: “ Obama won’t propose raising Medicare age” Obama’s deficit-reduction plan includes Medicare cuts that would directly affect seniors, but no rise in eligibility age. President Obama’s deficit-reduction plan includes Medicare cuts that would directly affect seniors, according to administration officials. LINK

The Wall Street Journal’s Carol E. Lee and Damian Paletta: “ New Obama Deficit Plan” President Barack Obama will offer a new plan to reduce the federal deficit by about $3.6 trillion over a decade, almost half of which would come from tax increases, people familiar with the proposal said. While some pieces of Mr. Obama’s plan may be agreed upon, Congress is unlikely to pass the package as proposed given Republican resistance to tax increases. LINK

Politico’s Carrie Budoff Brown and Jennifer Epstein: “ Barack Obama to unveil $3 trillion deficit-cutting plan” President Barack Obama will release a plan Monday to cut the federal deficit by $3 trillion over the next decade, drawing half the savings from new tax revenue and sparing Medicare recipients from having to wait longer to collect benefits, senior administration officials said Sunday. LINK

UNITED NATIONS / FOREIGN AFFAIRS: The New York Daily News’ Katie Nelson and Alison Gendar: “ President Barack Obama heads to New York to avoid UN showdown over Palestine” President Obama comes to New York Monday looking to avert a UN showdown over a Palestinian state – and hunting for donations from an increasingly angry base. LINK

GOP: ABC News’ David Kerley: “ ‘Class Warfare’: Republicans Blast Obama’s ‘Buffett Rule’” President Obama has yet to release details of the so-called “Buffett Rule” he plans to introduce Monday, but Republicans already say they aren’t buying it, calling it “class warfare.” LINK

The Washington Times’ Seth McLaughlin: “ State record on jobs no guarantee as president” Gov. Rick Perry says that on his watch Texas has created more than 1 million jobs. Former Gov. Mitt Romney touts turning job losses into gains in Massachusetts. Former Gov. Jon Huntsman Jr. boasts that his job-growth credentials in Utah trump them both. But records from recent governors turned president show it’s difficult to re-create gubernatorial success on a national level. LINK

USA Today’s Susan Page: “ Can GOP’s new front-runner Rick Perry take the heat?” Rick Perry’s message: Bring it on. The blunt, brash governor with a Texas drawl says he’s not worried about the flood of scrutiny that has greeted his emergence as an instant front-runner for the Republican presidential nomination. LINK

ABC NEWS VIDEOS: “ Kara Kennedy: Dead at 51” LINK “ President Set to Unveil New Millionaires Tax” LINK

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