Obama to propose $300b jobs package

The proposed new spending, to be announced by Obama in a nationally televised speech to Congress, would be offset by budget cuts, the report said, signaling that the Democratic president hopes to mollify the concerns of Republican fiscal hawks resistant to his jobs ideas.

There was no immediate comment from the White House.

Obama's aides have refused to go public with the estimated cost of Obama's package or provide many specifics in advance, except to say that the proposals will have a "quick and positive" impact on boosting jobs at a time of stubbornly high US unemployment.

Confidence in Obama's management of the economy has been hit by months of bad economic news and several polls on Tuesday showed fresh declines in his job approval ratings.

Obama hopes to start reversing this trend in an address to a joint session of Congress on Thursday, in which he will try to convince voters that he has a better economic recovery plan than his Republican opponents.

"We need to do things that will have a direct impact in the short-term to grow the economy and create jobs and the president will put forward proposals that will do just that," White House spokesman Jay Carney said.

Obama fought Republicans all summer to lift the US debt ceiling in a bitter debate that saw rating agency Standard & Poor's cut the US AAA credit rating, and he must now get lawmakers to back additional spending that many oppose.

However, the president is seeking congressional support at a time when his own prospects of re-election have worsened; Kazinform cites China Daily.

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