Obama stated his intention to invest in these areas during the presidential debates in September and came back to the issue in a December address that he issued as president-elect, but over the weekend he added concrete goals to the plan.

"It’s a plan that will save or create three to four million jobs over the next few years," he said adding that its more than a plan to boost short-term employment. "It’s one that will invest in our most important priorities like energy and education; health care and a new infrastructure that are necessary to keep us strong and competitive in the 21st century."

Among the details, Obama said the plan will renovate and modernize 10,000 schools thus creating "state-of-the-art classrooms, libraries, and labs" for 5 million pupils. The plan also hopes to spur students on to careers in science by tripling the number of undergraduates and graduates studying in this area.

Renewable energy is also a focus. The plan will double energy-generating capacity over three years so that 6 million homes are powered by renewable means. He also plans to modernize the electricity grid and install 40 million "smart meters" in American homes.

The plan also aims to accelerate adoption of health IT systems.