LOL on the Obama part.

And DUH on the up and down part.  It has down cycles, always followed by much higher up cycles.  That's why short-term ins and outs are a pretty dumb idea unless you're a true expert.

401(k)'s are for retirement, meaning they're not intended to be short-term investments.  They're intended to be decades-long investments.  And I challenge you to find ANY point in the market history where the market didn't produce solid gains over a decades-long horizon.