Sorry to hear that your baby got hurt
I know how you feel.
When my degu got his foot wound he didn't bleed too much, as a matter of fact i didn't even know he was hurt until I saw the wound its self. I don't know if all the blood is normal or not.
As for cleaning your degu, you can wipe his belly down with water, he might not like it but as long as hes not hurt it's ok.
If I were you I wouldn't use the newspaper, but that is only my personal opinion, someone else may have different advice.
It is good that you're looking for a vet, I think that going to the vet would be your best bet.
Sorry I don't have much advice for you but I don't have much experience with bad wounds
When my degu's get small wounds I just watch it for a few days to make sure theres no swelling, puss or redness. I also put neosporin/polysporin on it if its raw (not scabbed up) but for the most part I just let nature take it's course.
If you are really worried for him, go to the vet. That is the best advice I can give you. Good luck and I hope he gets better soon.