Jesus is God, as Luellen has correctly stated. He has always been God, as is clearly stated in John 1:1 and 1:14. Titus 2:13 says "Looking for the blessed hope and appearing of the glory of our great God and Savior Christ Jesus." God the Father, God the Son and God the Holy Spirit are all equal in their divinity, yet represented in three persons. The Scriptures are clear that these three Persons together are one and only one God (Deut. 6:4). John 10:30 and 33 explain that the Father and the Son are one. First Corinthians 3:16 shows that the Father and the Spirit are one. Romans 8:9 makes clear that the Son and the Spirit are one. And John 14:16, 18, and 23 demonstrate that the Father, Son, and Spirit are one.
So... "Praise the Lord" is equal to "Praise God".