Obama is not a socialist. He's a corporatist. Or, even more correctly, an economic fascist.
Let it be understood that I am NOT a Ron Paul fan. I consider the man a kook in many respects, and dishonest for pretending to be a conservative in order to run for national office. Ron Paul is a Libertarian. He self-identifies as one when it suits his agenda, and he obviously is one all the time.
Let it also be noted that I am not anti-corporation, as Paul appears to be, along with lots of kooks. Corporations are no more sinister than people...which means they can be sinister...because they are just groups of people.
But while Paul is a kook, that never means he has nothing valid or even insightful to offer. He does. His observations about Obamanomics being "not socialist" are correct.
They are worse, in some respects, than socialist. Fascist economics is much more seductive, and much less threatening to most Americans...partly because they don't recognize it. It appears to leave control of capital in the hands of its owners, while actually misappropriating it to the government bureaucracies that...for instance...now control GM and various financial firms. The danger of fascist economics lies partly in its stealth character; it has been in vogue in America since before WWII, and has been used by both R and D collectivists for decades. Most Americans don't even know it for what it is.
Benito Mussolini was not a cartoon character or a brainless stooge for Hitler. He was a brilliant, dedicated socialist. One of his many insights was that Marxism was not going to work in Italy. He concocted a variation on communist/socialist collectivism that is what we call fascism. Hitler, also a devoted socialist, adopted and adapted Mussolini's model for Germany. No less a person than Winston Churchill was impressed by fascist economic models, prior to WWII. So were a great many Americans, including FDR and his advisers.
Obama is using, without apparent restraint, the economic model that Mussolini and Hitler brought the world. That needs to stop.