Acronym that stands for: in the Obama economy. It is a reference to the economy of the United States of America during Barack Obama's presidency. It is used exclusively in a negative sense, as the economy during Obama's presidency sucks, and living with it feels like receiving a cockmeat sandwich.
Normally standing outside a KFC in a chicken suit is a bad job, but not ITOE.
by Slick Willy! November 21, 2012