Obama outlines ambitious agenda for 'lasting prosperity'

(CNN) -- President Obama on Tuesday outlined an ambitious agenda that requires "significant resources," even as he aims to halve the deficit by the end of his first term.
President Obama says the United States will overcome its current economic struggles.

President Obama says the United States will overcome its current economic struggles.

In his first speech to a joint session of Congress, Obama said it's time to act boldly not just to revive the economy, but "to build a new foundation for lasting prosperity."

"While the cost of action will be great, I can assure you that the cost of inaction will be far greater," he said.

The president struck an optimistic tone, asserting that "we will rebuild, we will recover, and the United States of America will emerge stronger than before."

Obama focused on the three priorities of the budget he will present to Congress later this week: energy, health care and education.

The president said he sees his budget as a "vision for America -- as a blueprint for our future," but not something that will solve every problem or address every issue.