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1.
A very nuevo term, or, modern terminology, referring to Democratic Presidential Candidate, Barak Obama, and the White House Cabinet, if, and or, when, he wins the election in 2008. It is simply set to describe the probable outcome in the event of such and occurance.
A Xenophobic Republican Voter: "Man! If that dude gets into office, we'll end up with a 'Barakcracy'! That's for sure!!"

An anti-Bush Voter: "I'll tell you what! If that guy makes it to presidency, it will be a Barakcracy. That's a hell of a lot better than that stupid and unrealistic Bush Administraton!"

A Pessimistic Observer: "If we get a 'Barakcracy', then we are truly in trouble."
by Mike in Aurora, Colorado May 20, 2008