Term used mostly by Sean Hannity and Rush Limbaugh to blame the election of Barack Obama for the economic recession. Although it all started before his election and almost all analysts blame other factors like weak economic data and worries about other bailouts.
Rush Limbaugh: "The Obama recession is in full swing, ladies and gentlemen. Stocks are dying, which is a precursor of things to come. This is an Obama recession. Might turn into a depression. He hadn't done anything yet, but his ideas are killing the economy. His ideas are killing Wall Street. They need some certainty. (...) The markets are frozen because they really don't know how fast Obama is going to embark on his own destruction of the U.S. economy via his tax increases.
Sean Hannity: "It's under $55 a barrel. And by the way, Wall Street keeps sinking. Could it be the Obama recession: the fear that taxes are gonna go up, forcing people to pull out of the market? (...) This is really the Obama recession in this sense, that people that have money are looking at this, "Look, if he is true to his word, you know what? I'm getting out now." And he's the only president that has seen this dramatic decline in the stock market in the post-war era.
Sean Hannity: "It's under $55 a barrel. And by the way, Wall Street keeps sinking. Could it be the Obama recession: the fear that taxes are gonna go up, forcing people to pull out of the market? (...) This is really the Obama recession in this sense, that people that have money are looking at this, "Look, if he is true to his word, you know what? I'm getting out now." And he's the only president that has seen this dramatic decline in the stock market in the post-war era.
by Captain Sham November 19, 2008