NEW YORK (

TheStreet

) -- President Barack Obama plans to stress the importance of improving confidence in the U.S. economy in his State of the Union address later Tuesday, according to excerpt of the speech released to media outlets.

"No, we will not go back to an economy weakened by outsourcing, bad debt and phony financial profits. Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that's built to last - an economy built on American manufacturing, American energy, skills for American workers and a renewal of American values," reads one the excerpts, according to

The New York Times

.

Barack Obama

"Let's never forget: Millions of Americans who work hard and play by the rules every day deserve a government and a financial system that does the same. It's time to apply the same rules from top to bottom: no bailouts, no handouts and no cop-outs. An America built to last insists on responsibility from everybody," another excerpt reads.

The president also pledged to do his part to foster cooperation within the federal government but said he wouldn't stand for party politics getting in the way of making legislative progress.

"The defining issue of our time is how to keep that promise alive. No challenge is more urgent. No debate is more important. We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. What's at stake are not Democratic values or Republican values, but American values. We have to reclaim them," Obama plans to say.

"As long as I'm president, I will work with anyone in this chamber to build on this momentum. But I intend to fight obstruction with action, and I will oppose any effort to return to the very same policies that brought on this economic crisis in the first place," another excerpt reads.

Obama's speech will take place before Congress at 9 p.m. ET in the House of Representatives chamber.

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Written by Michael Baron in New York.

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Michael Baron

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