Is he setting himself up as some kind of mortal Jesus?
This trend of using scripture to justify the government capturing wealth and spreading it around or passing health care mandates is getting a little peculiar. Obama is basically saying it's what Jesus would do. But would any religious deity do such a thing? Most religions are focused on the individual, not the state. After all, the state is not going to die (conventionally at least). He might argue that since he's the head of a state he has a responsibility to practice his Christianity by having the state follow Biblical teachings of charity by increasing taxes and passing mandates and such, his administration acting as the arbiters of sweetness and light.
Decide for yourself whether it's a misapplication of scripture or not, but as a constitutional scholar he should know the United States wasn't founded on a principle of being our brothers' keepers or redistributing wealth or being charitable to the poor. Quite the opposite. If he wants to use the bully pulpit to spread a message of Christian goodwill that's great, but it's generally none of the government's business. He might find some pushback based on that little separation of church and state thing. Theoretically at least.