If he was speaking of his getting elected, it would be the truth. 5 years or so into his Presidency, it is NOT the truth. People don't like him because he sucks as a President, he sucks as a Commander in Chief, he sucks at foreign policy, and the economy is in the tank. Any benefit of the doubt people gave him as the First Black President has evaporated at least in part. IMO, the rascism is more prevalent on the side of his supporters than his critics.
I am not quite as sure of the foreign policy side. If you go with the assumption that he supports the Muslim Brotherhood, Al Queda, and Muslim extremism in the Middle East, then he isn't doing so bad.