Obama's new job plan

Obama recently presented a new job plan to stimulate the economy and help offer opportunities for unemployed Americans to get back to work.
http://www.bbc.co.uk/news/world-us-canada-14841746

It's a fairly good idea. Rather than giving money to megacorporations (who have already proven their ineptitude by making bad business decisions so that they can give bonuses to their top executives, line the pockets of their shareholders, create jobs overseas, and generally do very little to help the American people who paid for their bailout with their tax dollars), this plan would involve the government hiring and retaining workers directly, in order that they might engage in public service activities that benefit the people, such as building infrastructure and teaching.

Regarding the failure of the bank bailout, see:
http://michaelmoore.com/books-films/capitalism-love-story
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUnHZ1nOfPvI

Even if you are one of the people who oppose all taxes, perhaps you can agree that so long as the people do pay taxes, the tax money ought to be spent on programs that help the people, not endeavors to bomb civilians overseas or bailout corrupt corporations.

That said, this really feels like it's about three years too late, and still not enough. I suppose it is possible that Obama has learned from his past mistakes and is genuinely trying to make a positive difference, the timing of this makes me suspect it's really just a ploy to get re-elected. And if he does get re-elected, will he continue in this positive direction of actually using the people's tax dollars to help the people, or will he revert to his earlier strategy of bailing out corrupt corporations?