ABC News' Sunlen Miller reports:
After receiving his regular rounds of morning briefings, the President and the Vice President will host a meeting with bipartisan House and Senate Leadership in the Cabinet Room to discuss "the fiscal policy vision the President will later lay out."
Expected attendees include Speaker Boehner, Leader Pelosi, Representative Cantor, Representative Hoyer, Senator Reid, Senator McConnell, Senator Durbin and Senator Kyl.
In the afternoon the President will deliver a speech on fiscal policy at the George Washington University.
"The President will advocate a balanced approach to controlling out of control deficits and restoring fiscal responsibility while protecting the investments we need to grow our economy, create jobs, and win the future. The President’s proposal will build off of the deficit reduction measures included in his 2012 budget and will borrow from the recommendations of the bipartisan Fiscal Commission he created," a White House official says.