Socialism - the Conservative's New Rallying Cry!

Politically speaking, I am a conservative. I believe in free market capitalism and generally agree with the common conservative points of view. But I have been noticing a trend that disturbs me.

Lately, it seems that no matter what President Obama says or does, some conservative out there screams, “Socialism!” And thousands will rally behind with a hearty “AMEN!” But do they know exactly what they’re screaming and amen-ing?

According to Encarta, socialism is 1) a political system of communal ownership: a political theory or system in which the means of production and distribution are controlled by the people and operated according to equity and fairness rather than market principles; 2) a movement based on socialism: a political movement based on principles of socialism, typically advocating an end to private property and to the exploitation of workers; and 3) a stage between capitalism and communism: in Marxist theory, the stage after the proletarian revolution when a society is changing from capitalism to communism, marked by pay distributed according to work done rather than need.

I want to examine a few of Obama’s policies / proposals over the next few days in light of this definition. Are they truly Socialist, or is the term being tossed around as a rallying cry regardless of its meaning?