ORIGINAL POST 3:02 PM: Conservatives already don't like it, but you can watch Senator Murray and Congressman Ryan give their presentation on the budget compromise live on CSPAN.

UPDATE 3:14 PM: "I am happy to report that Senator Murray and I have reached an agreement," Ryan begins. He says the deal reduces the deficit and doesn't raise taxes. "I see this agreement as a step in the right direction," he continues, calling it "a clear imporvement on the status quo" that makes sure "we don't lurch from crisis to crisis.

UPDATE 3:18 PM: Ryan thanks Murray, saying she has "fought every step of the way." Murray then takes the podium, saying that "compromise" has been considered " a dirty word" for far too long. She also talks about "lurching from crisis to crisis." She says the budget will build on deficit reduction and also "help millions of Americans" with Meals on Wheels and medical research. "This isn't the plan I would've written on my own," she says, and she adds that Ryan wouldn't have written this plan on his own, either. Murray cites the fact that the deal doesn't close even one corporate tax loophole as a particular failing of the agreement, but she says it's a step toward fixing the public perception of Congress. She thanks Ryan, even though they cheer for "different football teams" and "catch different fish."

UPDATE 3:21 PM: Question for Ryan: Are conservatives going to be happy with this? Ryan says yes, because it reduces the deficit and doesn't raise taxes. He says this is the first bipartisan budget agreement since 1986. "I think conservatives will vote for this," Ryan says. He'll bring the agreement to the House this week.

UPDATE 3:25 PM: Question: How much vetting have Murray and Ryan done with the rest of their respective parties? Murray says she's been in close contact, though she admits that the agreement will not please one hundred percent of either the House or the Senate. Ryan says he's been in close contact with leadership.

Question: How much sequester relief is there in the agreement? Ryan says 63 billion dollars. Murray clarifies that it works out to 45 billion in the first year and the rest in the next year.

UPDATE 3:28 PM: Ryan says "we think it is only fair" that government workers pay more toward their pensions in this deal. Murray clarifies that there would be more furloughs and layoffs if this agreement doesn't pass. "I think alleviating government shutdowns' does make the economy a lot more stable, Ryan says.

UPDATE 3:30 PM: And that was it. Most of the questions had to do directly with how Ryan would deal with conservative pushback against this budget agreement. That seems to be the question of the week. For what it's worth, Ryan handled himself a lot better than he did on the stump for Mitt Romney last year, sounding in charge and confident, but Murray sounded more passionate about helping people.

UPDATE 3:35 PM: You can find the press release about the agreement here. It lays it all out pretty clearly:

The Bipartisan Budget Act of 2013 would set overall discretionary spending for the current fiscal year at $1.012 trillion—about halfway between the Senate budget level of $1.058 trillion and the House budget level of $967 billion. The agreement would provide $63 billion in sequester relief over two years, split evenly between defense and non-defense programs. In fiscal year 2014, defense discretionary spending would be set at $520.5 billion, and non-defense discretionary spending would be set at $491.8 billion.

The sequester relief is fully offset by savings elsewhere in the budget. The agreement includes dozens of specific deficit-reduction provisions, with mandatory savings and non-tax revenue totaling approximately $85 billion. The agreement would reduce the deficit by between $20 and $23 billion.