David’s declaration is that he will bless God each day that he lives.
From God’s side, He is the Blesser, the One who gives the capacity for living a full, abundant life. The Creator’s first act toward the newly created man and woman was to bless them (Gen. 1:28). The Aaronic Benediction (Num. 6:22–27) reaffirms God’s continuing promise of blessing to His people.
From our side, we kneel before our Creator God and receive His enabling power to live this day in peace, equipped for everything by His provision. Then, also from our knees, we respond to His blessing by lifting our words of praise and thanks to Him.