(CNN) - President Barack Obama enters politically tricky territory Wednesday when he outlines his plan for reducing long-term deficits and the national debt amid a climate of tense budget negotiations. Obama's speech at George Washington University will follow White House talks in the morning with congressional leaders who are staking out positions on upcoming issues, including approval of last week's budget deal for the rest of the current fiscal year, increasing the federal debt ceiling and crafting a budget for fiscal year 2012.
Ahead of today's speech, lawmakers from both sides weigh in on American Morning. Kiran Chetry and Christine Romans talk to Democratic Minority Whip Rep. Steny Hoyer, Republican House Majority Leader Eric Cantor and Alabama Republican Sen. Jeff Sessions, a ranking member of the Senate Budget Committee.
Watch all of the interviews below: