The word "Obamageddon" is a portmanteau of the words "Obama" and "Armageddon" given by Celente, who successfully predicted the current recession, and who believes that the anti-business policies pursued by President Obama will cause a further financial collapse within four years of his taking office  .
The term is also used to describe the massive electoral losses that the Obama administration and congressional Liberals faced in the 2010 Midterm Elections due to public revulsion of their radical socialist policies. Obama supporters suffered a stunning defeat during those elections, losing the majority in the House of Representatives by a large margin.
|“||The absence of these...(liberal)... Democratic megadonors is contributing to a huge disparity in spending between pro-Republican and pro-Democratic groups. The groups wield huge influence in many House and Senate races because they can take in contributions of unlimited size. ||”|