There are other factors - increase numbers of women gun owners, and rising anxiety about crime, possible economic collapse, race war, natural disaster, EOTWAWKI.
I think what went on with hurrican Katrina really opened a lot of people's eyes - many people believed that in a disaster, law enforcement was going to be there to help people.
What we saw was police abrogating their duties, allowing and in some cases even taking part in looting. Abandoning their posts / refusing to respond. People were rounded up, herded in and mixed with and put at the mercy of criminals. And of course there is the Danziger Bridge shootings.
There are still hard-core believers like Rahm Emanual, Nancy Pelosi, Dianne Feinstein and others who think that there is no reason to have a firearm - that the police can and will take care of you and you'll never need a gun. People who saw what happened with Hurrican Katrina know the truth.
So anyway - there are more factors than just the upcoming election and President Obama.