The more I dig in on socialism (for my paper, by the way) the more I see the confusion people have over it. So its no wonder we call Obama socialist. We don't know what it means. For all we know he could go to lots of parties and talk a lot (social-ist). Can we have our socialist cake and eat it too? Socialism is an economic system where a single govt (like the Fed) controls and shares ownership of resources and the means of production. Lets take land. The young US gave/sold most of the land to the people (eastern US has Military bases and Natl Parks, little else. Since the Mexican session, the govt held on to a majority of the land 75% of nevada and 1/3 if california is federal land for example. It gave some away to build the railroads but that was rare. The US also owned a bank until Jackson disbanded it. The US owned the interstate system but now the states own the right of ways. I see socialism and capitalism flowing back and forth based on the will of the people and the leaders. Right now we are flowing left. For example, look at Bush and prescription drug program. It was 5 times the cost as private! But there are innovative ways to deregulate and privatize. More innovation, less government. But you wont get rid of socialism. Thats what I am putting in my paper.