Good speech. Artfully attempts to split the Republicans. Some good ideas, some problematic. The republicans could take the outline of the speech and formulate the law much to their liking. In one aspect it is open pork rather than secret earmarks.
The tax reforms are sure to give the republicans a fit. Obama wants to tax the rich and relieve the middle class and small business. This will give the Tea Party faction and the Rockerfeller wing some hard discussions.
The public works spending is problematic due to the utter failure of the previous stimulus to deliver on that count. It'll be a trust issue.