I watched him briefly last night on 60 Minutes. He was asked directly how he planned to pay for his "social experiment". He thoroughly and absolutely failed to answer the question. In fact, he didn't even obliquely graze the question with his answer. The real answer is this- " I just said that stuff to get elected. Everyone knows it's not possible..."
Like most new presidents, he'll thrash around for a few months on domestic issues and grow frustrated. Then he'll start looking internationally where he doesn't have to deal with that pesky Congress.