I did not see anything wrong with the speech but I am sure he went through it line by line and decided not to say some things so people dont get upset about it. But as speeches go its ok
I found one thing in here that I just had to laugh at though
This line...
But at the end of the day, we can have the most dedicated teachers, the most supportive parents, and the best schools in the world
Now this guy has said over and over how we are substandard in just about everything.
China has better buildings, cuba and europe has better health care, everyone is better stuarts of the world.. but we have the best schools 
Our kids are so far behind other countries where education is concerned, no matter how much money you throw at schools they need more and our drop out rate is very high, though I dont know the numbers I bet we are higher than most other countries.
but at least we found something obama is proud of and thinks we are the best at... even if its not true 