Sorry, Mr. President. You don't put a Bandaid on a gaping hole.
I hope you are making babysteps in preparation of bigger and better things, because I believe we are at the point where militarization of the border is required should we wish to continue as a great nation. H.R. 4437 should be the place to start.
If you really want to fix the problem, you should invade Mexico, and help them establish a real Constitution with safeguards against rampant corruption throughout the Mexican government from top to bottom. This would be very costly, but easier than Iraq, and create a nation that Mexicans could earn an honest living inside, rather than leaving it for a better place.
I've work with many Illegals, and they tell me they have to come here to work so they can send money back home to feed their extended families, or they would go hungry. Our government treats them better than their government does, even though they are not here legally. They come here because the U.S.A. is a better country that Mexico, in all respects.
Here is what other people are saying about the President's Address:
Mr. Rogers Gives Speech From The Oval Office.
Maggie's Farm notes that President Bush wants to be the first Hispanic President. I wish I'd thought of that.
Here is the Text and Audio of the speech.