Obama, congressional leaders set to meet at the White House

Obama could use his fiscal commission's recommendations put forth by former Sen. Alan Simpson and Erskine Bowles as an outline and is likely to suggest eliminating tax breaks for the nation's wealthiest taxpayers along with spending cuts. Revenue raisers aren't a part of the fiscal 2012 budget plan put forward by House Budget Committee Chairman Paul RyanPaul RyanThe Hill Interview: Budget Chair Black sticks around for now Gun proposal picks up GOP support GOP lawmaker Tim Murphy to retire at end of term MORE (R-Wis.). 

He's also expected to provide more detail on entitlement spending such as Medicare, Medicaid and Social Security.