President Barack Obama will be taking a first hand look at ongoing recovery efforts in the city next week.

The White House announced on Friday said he is planning a trip to the city next Thursday.

Speaking earlier in the day, President Obama warned about tax hikes and government spending cuts set to kick-in come January.

He said lawmakers from both parties need to work together to tackle the nation's fiscal problems.

"All we need is action from the House. I've got the pen, ready to sign the bill right away. I'm ready to do it," Obama said.

The president also noted raising taxes on wealthiest Americans must be part of the deficit reduction plan.

House Republicans say they will not accept a tax hike.

Meantime, a video of the president taken the day after his re-election is going viral.

Obama made a surprise visit to his campaign office in Chicago Wednesday to thank staffers and volunteers.

At one point, the president got misty-eyed when talking about his supporters and their hard work saying, "What you guys have done means that the work that I'm doing is important, and I'm really proud of that. I'm really proud of all of you."

Obama told the workers he draws hope and inspiration when he thinks about their futures.