I'm behind on homework, so this will be short. Full text of the speech can be found here.
His "economic stimulus package" won't work, only tax and regulation cuts, not government handouts, stimulate the economy.
His "two democratic states" proposal for Israel/Palestine won't work either. When you have a terrorist organization in control of a "democracy," there will be no peace.
Of course he is right about Iraq and the war on terror, though his cuddling up with the Palestinians doesn't make any sense.
I loved his swipe at Bloomberg's push for "higher taxes on the rich" by pointing out that the IRS accepts checks and money orders.
Overall, it was a decent speech, but as we've seen throughout his presidency, some of his policies violate key conservative principles. The real problem is that the remaining GOP contenders, let alone the Democrats, will be even more liberal on some issues than President Bush has been.