Those of you who are watching certain news channels on which I’m not very popular, and you see folks waving tea bags around, let me just remind them that I am happy to have a serious conversation about how we are going to cut our health care costs down over the long term, how we’re going to stabilize Social Security — Claire and I are working dilligently to do a thorough audit of Federal spending — but let’s not play games and pretend that the reason is because of the Recovery Act.
Originally I took this as an attack on the teabaggers, which would be perfectly fun and all. But Dave Weigel is right, parsing Obama's language it's quite clear that he's taking a shot at Fox News. "Those of you who are watching certain news channels on which I’m not very popular, and you see folks waving tea bags around" is obviously referring to this:
Fox News and the rest of the right-wing conservative media reaches at least 30 million conservatives on a weekly basis. They flogged the teabagging for weeks and for what, for a few thousand protesters here and there? In the process, they made themselves look so ridiculous -- a congressman waving tea bags on TV -- that it served as great material for bloggers, late-night hosts, and yes, the President of the United States of America.