The Big O is getting his fascism and socialism mixed up. If he wants to be a fascist, fine, but he needs to stay focused. Government ownership of the means of production is socialism, not fascism.
The fascist experience in Germany and Italy was such that only the facade of private ownership was retained - the government had indirect control of the means of production, offering perks to those in the corporatist class who did the bidding of the government without the need of much arm twisting. Every corporate decision was a government decision (although, unlike in the Soviet experience of the communist brand of totalitarianism, in fascism input from those proven to be successful in a given field was valued - the government ranks were filled with erstwhile corporate leaders).
Socialism and communism are merely rhetorical variations of fascist totalitarianism. Lots of difference on paper, no difference in practice. I use socialism and fascism as synonyms (though fascism is a term burdened with grossly inapt connotation, while socialism is a term unduly elevated by idealistic political theory).
Actually, that would be COMMUNISM, not socialism. Socialism would be the means of production actually owned by the workers themselves. When the means of production are owned by a Centralized Government Power (The FEDS), then it would technically be communism.
[And, don’t let the liberals try to fool you with the “but WE the people” own the government — as we all know WE THE PEOPLE haven’t been in control of the government (esp. the FEDS), in a LONG, LONG, time...]
Seriously, Obama should just get it over with now... No use trying to hide his agenda anymore really — like we can’t see it? Anyone who ever studied history knows where this is going... History is doomed to repeat if people don’t learn from it, and the good Lord knows that anyone who came to the age of reason after say the mid-80s - usually don’t have a CLUE as to what Communism REALLY is, or what it really does to people, and to a country as a whole...