WOODBURY - President Barack Obama is in talks to overhaul the nation's immigration system.

Obama invited a bipartisan group that included Mayor Michael Bloomberg and former Gov. Arnold Schwarzenegger (R-Calif.) to the White House today.

The group discussed reforming immigration laws.

The administration says an overhaul is necessary to meet the nation's economic and security needs.

Obama also kicked off his coast-to-coast tour promoting his deficit plan.

Today's first stop on the tour in Annandale, Va. comes one day after Standard and Poor's warned it might lower the credit rating of the United States because of mounting government debt.

The president supports tax increases for the wealthy and spending cuts to reduce the deficit.