That didn't take long. Israeli Prime Minister Benjamin Netanyahu rejected President Obama's proposed peace plan between Israel and Palestine a mere moment after today's speech at the State Department. Obama had advised that Israel return its borders to before the 1967 Six-Day War. Netanyahu, in keeping with his previous statements, called the proposal militarily "indefensible" in a statement. "Israel believes that in order for peace to prevail, the establishment of a Palestinian state cannot come at the expense of the State of Israel's existence," he said. "The Palestinians, and not only the United States, must recognize Israel as the Jewish people's nation-state."

Earlier today, Obama had said "We believe the borders of Israel and Palestine should be based on the 1967 lines with mutually agreed swaps, so that secure and recognized borders are established for both states." He emphasized that the U.S. would not be able to impose this plan; it would have to be accepted by both parties. "What America and the international community can do is to state frankly what everyone knows--a lasting peace will involve two states for two peoples: Israel as a Jewish state and the homeland for the Jewish people, and the state of Palestine as the homeland for the Palestinian people." For more on reactions to President Obama's speech and its political ramifications, follow our liveblog.