The biggest problem with this response is that the attack in Libya which killed four Americans appears to have been an outright terrorist attack on the anniversary of 9/11 and not a reaction to a movie.
Regardless, the whole point of freedom of speech is that it is only free if people are able to say objectionable things. No one ever tries to stop people from saying things that they agree with. This is best illustrated by the quote attributed to Voltaire*, "I disapprove of what you say, but I will defend to the death your right to say it."
It took two weeks but President Obama finally got this sentiment right, at least in part. When addressing the UN he had this to say:
"Americans have fought and died around the globe to protect the right of all people to express their views — even views that we disagree with," the president said. Without such freedom, he said, individuals might be stopped from practicing their own faith; "efforts to restrict speech can become a tool to silence critics or oppress minorities." He concluded: "Given the power of faith in our lives and the passion that religious differences can inflame, the strongest weapon against hateful speech is not repression, it is more speech."
This raises the question of what Obama actually believes? Does he actually believe that it is wrong to restrict speech or is he just reading words from a teleprompter? How does he reconcile this view with his earlier attempts at restricting speech?
* According to Wikipedia, this quote was actually written by a biographer of Voltaire, Evelyn Beatrice Hall as an illustration of Voltaire's beliefs. Regardless, it summarizes of freedom of speech better than any other quote.