The speech will be carried by all major networks and will be streamed live on bigcountryhomepage.com.
The address is not officially a State of the Union address, but is expected to carry the same tone.
Meanwhile, the president is preparing to send his first official budget to Congress on Thursday.
Yesterday, Obama hosted a fiscal responsibility summit at the White House . The president said because of the economy, tough choices will have to be made in the coming years about health care costs, tax policy and federal entitlement spending.