The word “blessed” pops up often in social media hashtags and word art (like one wall hanging in a store declaring, “Too blessed to be stressed!”). There is no question that all human beings (Christians in particular) are blessed. Regardless of what hardships have come our way, every one of us is doing better than is deserved by sinful people like us. If you know Jesus Christ as your Savior, you possess the chief blessing: forgiveness of sins.
What seems surprising to me is not so much to declare that I am blessed, but that God is blessed. Yet the Hebrew word translated praise in our passage is closer to the verb bless. How is God blessed? First, because of the perfection of His attributes, then by the pleasure He takes in Himself as the Triune God. He is the source of all blessing.
David declares in Psalm 103 that God, the very One who has blessed David with all he needs
(v. 1-5), is to be blessed. Indeed, our blessing is from the blessedness of God. He overflows with abundance, and we are the beneficiaries of it.