They aren't doing it for Obama - they are doing it to preserve the illusion of an real market, so the commissions will keep rolling in. When the Dow peaked in 1929, it subsequently lost 80% of its value. People abandoned the market for a generation. This time, they are have managed to keep the Dow at its year 2000 level for ten years, and are letting the necessary 80% drop happen more slowly, through inflation, so it doesn't look so bad and won't cause a panic. In 15 years the Dow will probably still be around 10,000 - but worth 20% of what it was in 2000.
The PPT can't really affect the S&P 500 they way they can the Dow, so that's the index to watch if things start to get out of hand.