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Wiki actually has a good description - one that would nail Obama:

“”High” in the legal and common parlance of the seventeenth and eighteenth centuries of “high crimes” signifies activity by or against those who have special duties acquired by taking an oath of office that are not shared with common persons. A high crime is one that can only be done by someone in a unique position of authority, which is political in character, who does things to circumvent justice. The phrase “high crimes and misdemeanors” when used together was a common phrase at the time the U.S. Constitution was written and did not mean any stringent or difficult criteria for determining guilt. It meant the opposite. The phrase was historically used to cover a very broad range of crimes.

In the Washington Post reprinting of the Judiciary Committee’s review of Impeachment in 1974, the review states, “”High Crimes and Misdemeanors” has traditionally been considered a “term of art”, like such other constitutional phrases as “levying war” and “due process.” The Supreme Court has held that such phrases must be construed, not according to modern usage, but according to what the framers meant when they adopted them. Chief Justice Marshall wrote of another such phrase:

“It is a technical term. It is used in a very old statute of that country whose language is our language, and whose laws form the substratum of our laws. It is scarcely conceivable that the term was not employed by the framers of our constitution in the sense which had been affixed to it by those from whom we borrowed it.”

The constitutional convention adopted “high crimes and misdemeanors” with little discussion. Most of the framers knew the phrase well. Since 1386, the English parliament had used the term “high crimes and misdemeanors” to describe one of the grounds to impeach officials of the crown. Officials accused of “high crimes and misdemeanors” were accused of offenses as varied as misappropriating government funds, appointing unfit subordinates, not prosecuting cases, not spending money allocated by Parliament, promoting themselves ahead of more deserving candidates, threatening a grand jury, disobeying an order from Parliament, arresting a man to keep him from running for Parliament, losing a ship by neglecting to moor it, helping “suppress petitions to the King to call a Parliament,” granting warrants without cause, and bribery. Some of these charges were crimes. Others were not. The one common denominator in all these accusations was that the official had somehow abused the power of his office and was unfit to serve.

As can be found in historical references of the period, the phrase in its original meaning is interpreted as “for whatever reason whatsoever”. High indicates a type of very serious crime, and misdemeanors indicates crimes that are minor. Therefore this phrase covers all or any crime that abuses office. Benjamin Franklin asserted that the power of impeachment and removal was necessary for those times when the Executive “rendered himself obnoxious,” and the Constitution should provide for the “regular punishment of the Executive when his conduct should deserve it, and for his honorable acquittal when he should be unjustly accused.” James Madison said, “...impeachment... was indispensable” to defend the community against “the incapacity, negligence or perfidy of the chief Magistrate.” With a single executive, Madison argued, unlike a legislature whose collective nature provided security, “loss of capacity or corruption was more within the compass of probable events, and either of them might be fatal to the Republic.””

https://en.wikipedia.org/wiki/High_crimes_and_misdemeanours