I like this overview from Esquire. It is well worth reading in its entirely but the basic message can be summed up in these two excerpts:

Not for the first time, nor we fear for the last, Barack Obama reassured us all that we are a great people with a great country facing great challenges that we can overcome with our national greatness, hell yeah! It’s certainly a better message than the two that came after it. But it assumes a lot of facts not in evidence. The president remains uncomfortable in the presence of irrationality, and there’s still too much of that going around.

Clearly, neither Ryan nor Bachmann has the foggiest notion of the role that the government of the United States of America — and the spending of public coin — played in making this country the world-historic power that you can read about in books. Ryan because his ideology won’t allow him to acknowledge such things, and Bachmann because she’s several bricks shy of a load.

They are in reverse order of where they appear in the original (the Obama comment is actually the closing paragraph). Here’s another excerpt with which I heartily agree.

You cannot truly judge Obama’s second State of the Union address without first coming to grips with what came after it. Make no mistake: Michele Bachmann is a howling loon — a woman with no compunction at all about lying through her not inconsiderable teeth about virtually everything — but Ryan, no matter what his reputation elsewhere as a “serious” economic thinker, is no less radical, if somewhat less nutty. Where Bachmann has her devotion to the Constitution written by the voices in her head, Ryan has his economic “roadmap,” a Randian fever dream he produced a while back that so alarmed his fellow Republicans that they ran away as though Ryan had proposed the Affordable Cholera Act of 2009. The roadmap didn’t come up on Tuesday evening. Instead, Ryan, heavily lacquered enough to pass for a mahogany coffee table, seemed to imply that his three small children will one day be personally responsible for paying down the entire national debt. The rest of his rebuttal was a masterpiece of Dystopia Porn. Except for that bit about the Social Security net becoming a “hammock” there at the end, which was right of a 1978 Charles Murray start set and, frankly, pretty brazen from a guy who went through high school on his dearly departed father’s Social Security money…