Yes, this is very scary. It is clear what he means is socialism. However, there is no specific pithy soundbite here that can be easily used against Obama. This may not do any good.
“And one of the I think tragedies of the civil rights movement was because the civil rights movement became so court focused I think there was a tendency to lose track of the political and community organizing activities on the ground that are able to put the actual coalitions of power through which you bring about redistributive change, and in some ways we still suffer from that.”