The Drudge Report cropped comments President Obama made in 1998 about government's role in creating a society where everybody has a shot and used those cropped comments to portray Obama as a socialist.

Drudge linked to a YouTube video supposedly taken from an October 1998 conference at Loyola University with a picture of Obama and the headline, “I actually believe in redistribution.” The quote was picked up by Gateway Pundit blogger Jim Hoft who used the video to call Obama “America's Socialist In Chief.”

But the quote leaves off the end of Obama's sentence: “at least at a certain level to make sure that everybody's got a shot.”

Obama was actually talking about the role of government in providing services, but also criticizing ineffective forms of government. For instance, Obama says in the audio, "[W]e do have to be innovative in thinking, what are the delivery systems that are actually effective and meet people where they live?"

He was talking broadly about pooling resources to make sure that everybody has a fair shot.

Transcript of the YouTube audio: