The trouble with this question is whether the president has made the economy better or worse. I would argue that he prevented it from getting catastrophic, but the economy has yet to get better. There were a lot of things that made the economy in the US in horrible condition when Obama took office. I would argue that he has done what he can to prevent extreme catastrophe.
The economy is a mess, but at least there is a bit of an upswing and more jobs are available and more homes are being bought and sold. President Obama has done some good things for it, but he is hampered by the Republican stranglehold so what isn't getting done isn't all his fault.
President Obama turned around the banking industry with a federal bailout. Without this intervention, our economy may have collapsed into a depression. The automotive industry is re-opening new dealerships because the federal government supplied federal money to shore up the industry at the beginning of his administration. Two of our countries biggest industries are thriving and growing because President Obama made programs available, leading to a better economy today.
Business owners are very wary of many of Obama's policies. None more so than the Affordable Care Act. Businesses are worried about the cost of implementing the Affordable Care Act and are holding back from making investments until there is more certainty. Until Obama convinces the business sector that he isn't anti business he won't be able to turn the economy around.
No, I do not believe that Obama is turning the economy around because he is a socialist. He is making it impossible for employers to keep jobs for employees. When they do lose their jobs, they are told that is a good thing so that they can tuck their kids in at night. It's sad.