Obama to defend budget in prime-time address

President Obama will offer a defense of his budget and the steps his administration has taken in its first 100 days Wednesday night in his prime-time address.

It will make the third time Obama has addressed the nation since becoming president.

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Obama will cast his budget, approved Wednesday by the House and Senate, as building "on the steps we’ve taken over the last one hundred days to move this economy from recession to recovery and ultimately to prosperity," according to prepared remarks.

He will also outline what he views as the accomplishments of his administration so far.

"We began by passing a recovery act that has already saved or created over 150,000 jobs and provided a tax cut to 95 percent of all working families," the president will say, according to the remarks.

"We passed a law to provide and protect health insurance for 11 million American children whose parents work full-time.  And we launched a housing plan that has already contributed to a spike in the number of homeowners who are refinancing their mortgages, which is the equivalent of another tax cut."

The remarks also boast that his administration is "off to a good start," echoing remarks he made earlier in the day at a town hall event in St. Louis, Mo.

"But it is just a start," the remarks state . "I am proud of what we have achieved, but I am not content.  I am pleased with our progress, but I am not satisfied."

The president also will warn that a number of daunting challenges remain, not least of which is the H1N1 flu virus, also known as swine flu, that claimed its first U.S. victim on Tuesday.

The swine flu "is obviously a very serious situation, and every American should know that their entire government is taking the utmost precautions and preparations," Obama states in the remarks.

Other challenges, including an economy that continues to struggle and nuclear proliferation, lie ahead in the coming days.

"And all of this means you can expect an unrelenting, unyielding effort from this administration to strengthen our prosperity and our security – in the second hundred days, and the third hundred days and all the days after," Obama will state.