Obama's Economic Policy is... State Socialism?

Listening to a recent speech by US President Barack Obama (Democrat) regarding the passage of the American Invents Act at Thomas Jefferson High School for Science and Technology in Alexandria, Virginia, I was bothered by way that he phrased things. Shortly into his speech, he said:

...But there are other steps that (the national government) can take. Today, for example, my (the national government) administration is announcing a new center that will help companies reduce the time and cost of developing lifesaving drugs. When scientists and researchers at the National Institutes of Health discover a new cure or breakthrough, (the national government's) going to make it easier for startup companies to sell those products to the people who need them. (The national government) got more than 100 universities and companies to agree that they’ll work together to bring more inventions to market as fast as possible. And (the national government's) also developing a strategy to create jobs in biotechnology, which has tremendous promise for health, clean energy and the environment....

....So (the national government's) going to have to make sure that (the national government's) continuing to invest in basic research so you can do the work that you’re capable of — and still pay the rent, which is important, you will find out. (ha ha, paying the bills is funny.)

(The national government's) need to continue to provide incentives and support to make sure the next generation of manufacturing takes root not in China or in Europe, but right here in the United States — because it’s not enough to invent things here; our workers should also be building the products that are stamped with three proud words: Made in America.

And if (the national government) wants companies to hire our workers, (the national government) needs to make sure we give every American the skills and education that they need to compete. (The national government has) got to have more schools like Thomas Jefferson....

...That’s why (the national government's) boosting science and technology and engineering and math education all across the country. And that’s why (the national government's) also working with businesses to train more engineers, and revitalize our community colleges so they can provide our workers with new skills and training. And, finally, that’s why (the national government's) making sure that all of our children can afford to fulfill their dream of a college education — that they can afford to go to school and that Pell grants and student loan programs ensure that they don’t come out of college with mountains of debt.

This is the economy (the national government) needs to build — one where innovation is encouraged, education is a national mission, and new jobs and businesses take root right here in America.

So that’s the long-term project.

To be helpful, I replaced the word 'we' with 'the national government' so that I could better understand exactly what Obama sees as the long-term project of change for our nation.

You see, what bothers me is that the economic philosophy that I increasingly believe that Obama is increasingly pushing in our nation is State Socialism. Wikipedia describes it this way:

State socialism is an economic system with limited socialist characteristics, such as public ownership of major industries, remedial measures to benefit the working class, and a gradual process of developing socialism through government policy.

Proponents of state socialism claim the state, through practical considerations of governing, must play at least a temporary part in building socialism. Many Socialists, such as Fredrick Engels and Saint-Simon, take the position that the state will change in nature and function in a socialist society; specifically, the nature of the state would change from one of political rule over people into a scientific administration of the processes of production; specifically the state would become a coordinating economic entity of inclusive associations rather than a mechanism of class and political control....

...Traditional social democrats and non-revolutionary democratic socialists argue for a gradual, peaceful transition from capitalism to socialism. They wish to abolish capitalism, but through political reform rather than revolution. This method of gradualism implies utilization of the existing state apparatus and machinery of government to gradually move society toward socialism, and is sometimes derided by other socialists as a form of "socialism from above" or political "elitism" for relying on electoral means to achieve socialism....

....Trotskyists believe that central planners, regardless of their intellectual capacity, operate without the input and participation of the millions of people who participate in the economy who understand/respond to local conditions and changes in the economy, and because of this criticize central state planning as being unable to effectively coordinate all economic activity....

Perhaps I'm wrong, and Obama isn't in favor of State Socialism, but I think I'm narrowing down exactly just exactly this guy is thinking for the future of America.