There's a school of thought that the Obama administration is deliberately damaging the economy and gutting the stock market, on the theory that doing so will make more people dependent on the government and pave the way for a far-left regime. Doug Ross makes the argument:
Consider that, in the teeth of a devastating recession, Obama has:
• Raised taxes on small businesses, the engines of entrepreneurship and job growth
• Raised the capital gains tax
• Lied about "tax cuts for 95% of Americans", offering instead $13 a week, achieved not through tax cuts, but by changing the federal withholding tables!
More likely the explanation is that Obama is an economic illiterate, and subscribes to the idea--which I think is rather common among Democrats--that what the government does has little impact on the economy.
So he enacts every left-wing measure that he wanted to do anyway
That's a cynical strategy, although not quite as cynical as destroying the economy on purpose
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