He gave a great speech on the role of govornment in a nations peoples lives. He took direct aim at the rightwing haters who claim anything the gov does is a disaster. More than 92,000 people jammed into the U's stadium to hear the President address the graduating class.
By all accounts they loved every minute of it.
If you have 30 minutes... treat yourself to the videos I'm linking too for you. Enjoy. 
http://www.dailykos.com/storyonly/2010/5/1/862367/-92,000-people,-and-one-brilliant-speech