AC360° Live Blog: President’s Presser: What do you think?

Editor's note: There will be a special AC360° Live Blog tonight at 8p during President Obama's press conference. Please join us!
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Ed Henry
CNN Senior White House Correspondent

WASHINGTON - Look for the hopeful President Obama to be back in the East Room tonight for his second prime time news conference at the White House since taking office.

"We will recover from this recession," the President will say in his opening statement, according to excerpts released by the White House. "But it will take time, it will take patience, and it will take an understanding that when we all work together; when each of us looks beyond our own short-term interests to the wider set of obligations we have to each other - that's when we succeed. That's when we prosper. And that's what is needed right now."

Before taking questions from the White House press corps for nearly an hour, the President will try and make the case that his plans - ranging from the stimulus plan to the financial stability plan now being pushed by Treasury Secretary Timothy Geithner - are "designed to attack this crisis on all fronts" right now.

"It's a strategy to create jobs, to help responsible homeowners, to re-start lending, and to grow our economy over the long-term," the President will say, according to the excerpts. "And we are beginning to see signs of progress."

Top aides say the President will also make a strong pitch for his budget plan, which is in trouble right now because some senior Democrats are raising questions about how he can pay for all of his key initiatives with the nation already deep in debt.

Obama will declare that his budget "lays the foundation for a secure and lasting prosperity" by making key investments in education, energy and health care.

"The budget I submitted to Congress will build our economic recovery on a stronger foundation, so that we do not face another crisis like this ten or twenty years from now," Obama will say, according to his prepared remarks. "We invest in the renewable sources of energy that will lead to new jobs, new businesses, and less dependence on foreign oil. We invest in our schools and our teachers so that our children have the skills they need to compete with any workers in the world. We invest in reform that will bring down the cost of health care for families, businesses, and our government."

Despite the lofty rhetoric, the President knows the budget is in trouble within his own party. That's why within hours of the news conference he will be heading straight to Capitol Hill on Wednesday to step up the lobbying effort.