Obama has frustrated many of his supporters by repeatedly conceding the center in his negotiations with Republicans and conservative Democrats. This proposal defies Republican threats and manages to deliver something that is worthy of support -- at least as the details have emerged so far.
I suspect that this plan has a lot to do with Obama's reelection bid than a sudden passion for more progressive economic policies. Well, politics is not for the faint of heart of the idealistic. Stay tuned for more updates.
UPDATE: Yes - he is in full-blown campaign mode. Too bad he does not exhibit such passion and leadership too often.