On March 11, Albert Tate preached from Ephesians at Fellowship Monrovia (audio link here). Around the 8:45 mark of the sermon, he says, "If you want to sum up the gospel in two verses, here it is: 'Love the Lord your God with all your heart. Love your neighbor as yourself.'"
Wow. Here's the context of this scripture from Luke 10:
So this verse is the summary of the LAW. Let's see what the New Testament says the Gospel is.
Paul, writing under the inspiration of the Holy Spirit in 1 Corinthians 15 says:
The Law condemns. The Gospel saves. The Law convicts. The Gospel pays our penalty.
The Gospel is not what we do. It's what's been done for us. By God. Through Christ.
If the Gospel were simply, "Love God and Love Others," there would be no need for Christ's death and resurrection. There would be no conflict between Christians and other religions. Who can argue that Albert Tate's gospel is "foolishness" as Paul said the Greeks said it was in 1 Corinthians 1:23? Many other religions preach Love God and your neighbor.
The sad thing about calling this the gospel is that we can't do it. You and I cannot do this perfectly. Christ did. He died for our sins, which ultimately boil down to not loving God and not loving our neighbor.