Notice, if you will, the dismissive, almost contemptuous tone of his voice when he says, "The private sector is doing fine." He clearly has only scorn for the private sector - and therefore for those in it. I would go so far as to say he believes the private sector to be his enemy because it is one of the main reasons why there is pushback to The Big O's big government vision. The private sector does not give Obama greater power and control - only bigger government does that.
And with Obama, it's all about the "O".