Obama speech to outline fiscal policy proposals

He will propose reducing spending on healthcare programmes for the poor and elderly and on defence, and raising taxes on the wealthy, aides have said.
Republicans are certain to reject Mr Obama's tax increase proposals and call for deeper spending cuts, analysts say.
The contrasting ideas are set to play heavily in the 2012 election campaign.
The US government budget deficit is expected to reach $1.4 trillion (£860m) this year, and both Democrats and Republicans say curbing spending should be a top priority.
Buoyed by the fiscally conservative Tea Party movement, Republicans have won a series of policy victories, including forcing $38.5bn in government spending cuts for the remainder of the current fiscal year.
'Non-starter' Mr Obama hopes to retake momentum from Republicans on the issue as the 2012 presidential campaign warms up, analysts say.

On Tuesday morning, Mr Obama was previewing his proposal before a bipartisan gathering of congressional leaders at the White House. Later, he was to make a speech at George Washington University in Washington DC.

In a pre-emptive attack on Tuesday morning, Republican House Speaker John Boehner called any proposal to raise taxes "a non-starter".
Republican Representative Paul Ryan, the powerful chairman of the House of Representatives budget committee, said he was pleased Mr Obama was talking publicly about spending cuts but said: "We don't have a problem because Americans don't pay enough taxes."
Mr Ryan has outlined a 2012 plan that would slash $6.2 trillion from government spending over the next decade, in large part through cuts to government programmes that serve the elderly and the poor, analysts say.
His plan would also drastically reduce taxes for wealthy Americans, analysts say.
The House is due to vote on Mr Ryan's proposal on Friday.
US political observers expect the fight over the government budget for the fiscal year beginning 1 October to be bruising, as Republicans and Democrats push their competing visions.
Last week, the US government came within an hour of shutting down as Republican and Democratic leaders battled to reach an agreement on a budget for the next six months.
The deal reached just before midnight on Friday cut $38.5bn from the budget to 30 September.
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