State of the Nation Address (SONA), PNoy's First

I haven't watched the State of the Nation Address of President Noynoy yet but thanks to Blogags' Full Text Transcript of PNoy's first SONA, I was able to at least be aware of what the real status of our beloved Philippines is. His Excellency was able to spill out a few of his inherited problems from the previous administration and the steps he will take together with his cabinet members and encouraging all of us, Filipinos to overcome these problems by taking the right way.

Here are some points mentioned:
(1) Calamity Fund was budgeted 2 billion pesos and 60% of it already spent even if calamities have not yet happened
(2) MWSS payroll was prioritize against the pension of the retirees
(3) La Mesa Watershed
(4) DPWH's Motor Vehicle Users Charge fund
(5) NAPOCOR's debt which the government paid 200 billion pesos
(6) MRT was not guaranteed to pay back the operator so Landbank and Development Bank was asked to buy it
(7) NFA excessive supply on rice leads to rotten or spoiled rice

What can you say about the first state of the nation address by PNoy?