Politico outlines what Obama will say in his Wednesday speech:

Politico Translation
Obama will lay out a specific “President’s Plan,” even if he doesn’t call it that. More "goodybag"
"He will not confront or scold the left….The politics of triangulation don’t live in this White House.” Yeah, we know how to read a poll, thanks.
He will make an overture to Republicans. Olympia Snowe?  She’s a Republican, right?
He will make it clear that it’s better to get something done than nothing done. If I don’t pull this out, PhRMA’s gonna leave me for Boehner.
Obama will try to reassure the left about his commitment to a public option, or government insurance plan. Aides said they are rethinking what he will say about this. What’s Portugese for "trigger"?
“He has consistently said that he thinks the public option is an important way to make sure that there is both cost and competition control….He’s always said he’d be happy to look at any proposal that gets to these goals, but that he thinks this is probably the best better way to do it.” Someone who doesn’t worry about poll numbers gives Grandma the bad news.   Compromise…triggers!