Victor, I think Obama is probably referring to the stock market slide early in his presidency.

UPDATE

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Rich,
I thought the same thing when I read that quote from Obama–that he was talking about the stock market decline in Feb/March of this year. However, I actually heard the quote today on Rush and he references the stock market decline during the “general election”.
Now that’s some real chutzpah. Everybody knows that the meltdown in September helped him almost exclusively over McCain.