David foretells the resurrection of the Lord, as Fodorit explains, addressing those Jews who believed that He was forever in the grave. He proclaims to them that Christ is alive, having risen on the third day. And blessed be the God of gods, he proclaims, who is deserving of our praise and glory. He prays for the God of my salvation to ascend. Through these words, David implores the Lord to rise into heaven, so that upon His ascension, He might send the Comforter to the apostles tasked with spreading the gospel. In times of old, the Son was known as the Creator, but now He is the God of re-creation, or deliverance. David uses the term 'my' because he views salvation through Christ as both personal and collective—his and ours.
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Additionally, we can interpret these words in another light regarding David's own contributions. The Lord lives, he asserts, meaning He is eternal, having no beginning or end, existing eternally. David often adds exhortations to his proclamations for the benefit of his audience. He is blessed for the wondrous deeds He has accomplished. The phrase, "that He may be exalted," implies that He is honored among us as sublime and majestic.