The analogy in the OP is flawed to begin with.
It sounds as if we’re expected to take for granted that liberal capitalism is a meritocracy in which a fair external judge awards money to individuals based on their abilities, effort, and work.
It would work if the classroom was unequal to begin with. If some people inherited their As, and others inherited their positions in the front seats, where they had good books and the teacher involved them, as opposed to those born in the back seats, where they didn’t even have notebooks and pencils, and couldn’t even hear the teacher.
If some people could somehow scramble into the front seats, but those were truly exceptional people, people like Steve Jobs.
If those who already were getting As were the only ones who could start project groups from which you accumulated your credits and got your grades. If you weren’t born with an A, you could borrow some credits from an A student to start a project group, but would have to return in manifold. If the A students who organized these project groups could just decide the grades of those working for them and could take credit for their work, so the classroom would have fewer B and C level students, while the A level students would now have grades that looked more like A+++++++++++++++++++++++++++.
If those who got Fs would starve to death and it would be their fault, and if those who got Ds and sometimes even Cs could still die from a treatable illness. And, even if they worked on their assignment over 50 or 60 hours a week, and even if their credits were taken over by their A level project coordinators, they would still be blamed as lazy and incompetent.
So, if some of the students said “This is unfair! We should all be equal in these projects, work together, and get the same number of credits!” then THAT would be socialism.
But what Obama seems to want to do is just try to make sure that even if someone gets an F (and they might be special needs, or have serious problems at home) or a D (and this could well be even if they’re working hard long hours for someone else), they’ll still live if they get sick.