I'd be willing to bet that not a single kid walks out of a classroom that goes through the whole drill (speech, discussion, questions) without believing everything he or she has heard from the Prez. The key thing, of course, will be whether he wants to turn schoolkids into "lobbyists" for his agenda.
Why is it important that we listen to the President and other elected officials, like the mayor, senators, members of congress, or the governor?
What is the President trying to tell me?
What new ideas and actions is the President challenging me to think about?
What specific job is he asking me to do? Is he asking anything of anyone else? Teachers? Principals? Parents? The American people?
Michelle Malkin has some interesting observations on the whole thing.
UPDATE: I should have thought of this before, but I'm pretty sure a lot of schools are still closed the day after Labor Day.
UPDATE: As this article in The Washington Examiner notes, when George H.W. Bush in 1991 gave a similar speech, Democrats "investigated and held hearings" in protest.