Here's Stephen Hayes in the Weekly Standard reviewing the President's dinner with Republicans:
The White House screwed up the sequester fight, the president’s approval ratings are dropping, heretofore-friendly reporters are criticizing his failure to lead, and, while Obama remains relatively unconcerned about debt and deficits, he recognizes the political utility of reaching out to Republicans now in order to demonize them once again in the months leading up to the 2014 midterm elections. In short, it’s a setup.That's my sense also. This is all about the "optics" for Obama. Entitlement reform is something he believes in the abstract when it strokes his ego as "bravely going against his own party" but it never arrives. According to off-the-record accounts of the big dinner, when pressed on the need to take the lead on this very issue Obama searched for excuses to take action.
It's foolish to think that Obama will be an honest reformer for entitlements, which will swallow every penny of tax revenues in a few decades. He won't do it.