I've chosen Glen's write up on the document because its one of the best that I've come across so far that breaks down some of the issues clearly.
I really do encourage folks to read not the article first but the actual "white paper" first (found at the bottom of the article). Then read the article and form your own opinions and arguments.
For now the only thing I have to add is that this isn't even the actual secret memo used by the administration. This is a "white paper" that isn't even signed or dated but it gives us some insight to what the actual document might be like. Keep that in mind that this is essentially a watered down leak.