[tosseraccount]

Was Obama using this term in a Marxist economics context?

[vmorgulis]

It's a word from a democrat (thus a progressist) to people that defend privacy or freedom (so progressists too).

In that context, the word is pejorative and is related to marxism (more than freudism).

BTW I don't think Obama wrote his speech (according my knowledge of House of Cards :) ).