I think infrastructure spending is almost always a good thing, and our children will thank us for it regardless of whether it helps the immediate situation.
I think an end to the political gridlock, or at least a loosening of the knot, would be beneficial to the economy. It almost doesn't matter what DC does so long as there are clear signs they have a plan and are putting it in motion, rather than staring each other down for months on end.
From my conversations with small business people if he'd postpone the implementation of Health Care reform beyond his second term that would do a lot in terms of easing the fears of people that actually hire folks. But this is not evidence on my part, just anecdotal.