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There are estimates that the president’s job package might exceed $300 billion. These numbers have sparked some concern that the debt ceiling will be surpassed by next year’s election.

Press Secretary Jay Carney declined to provide any specific numbers on the cost of the package, but said the president would unveil new tactics to spur economic growth and increasing job creation.

Possible plans include immediate discretionary cuts, infrastructure spending, direct aid to state and local governments, entitlement and tax reforms and job training.

“We’re talking about Washington taking positive actions so that the private sector can create jobs, as well as take action so that we can mitigate the impact of job loss in other areas,” Carney said, in a press conference.

Also included in Obama's plan is an extention of a payroll tax cut passed in January, which has put an average of $1,000 to people’s paychecks.

The White House said Obama would be calling on Congress cultivate bipartisan support for his plans.  There are, however, expectations that there will be Republican resistance.

Some Republican leaders have already expressed their displeasure of the President's proposals, insisting that government spending would be a mistake.

Carney said the speech will provide some information on deficit and debt reduction, but the framework for that will not be the president’s focus. Some Democrats have expressed concern that the new package may propose cuts or changes to Medicare and Medicaid.

The proposal will be balanced to ensure everyone shares in the burden of paying for the creation of new jobs, according to Carney.  

Unemployment in America currently remains at 9.1 percent.

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