President Obama will frame this election as "the clearest choice of any time in a generation."

It's "a choice between two different paths for America. A choice between two fundamentally different visions for the future," he will say, according to advance excerpts of the speech.

As Republicans did last week, Obama will promise to tell voters the truth. "You elected me to tell you the truth," he plans to say. "And the truth is, it will take more than a few years for us to solve challenges that have built up over decades."

Obama also released a list of goals for his second term in manufacturing, energy, education, national security, and reducing the deficit.