Obama was wrong to trace the growth of high schools to "industrialization." This is exactly the hypothesis that I've been able to demonstrate makes no sense. (I've demonstrated that child welfare programs, for example, arose out of prior efforts to enforce child labor laws.) From that comment alone, I can see that Obama is just in over his head and he's locked in a foolish Marxist socialist model of reality that is outmoded and wrong.
There were a lot of Marxist themes in this speech including the attacks on executives, the encouragment of spreading the wealth around, and the idea that America's historical progress was due to government initiatives. I don't think he's going to back off raising taxes, taxes that will increase the size of the government sector and - ultimately - cost all of us more money.
If anything, I'm more frightened than ever for the future of our country after listening to this speech.