The combination of global warming, overpopulation, and peak oil offers a rather formidable challange.  Even if you don't believe in a worste case scenerio in any one of the three, they reinforce each other to make problems worse.  The so called "green revolution" that has allowed us to feed 6 billion has relied heavily on massive use of fetilizer (with natural gas as a feedstock), and irrigation--which is already straining existing water supplies and will only get worse as mountain glaciers melt, taking away a major source of fresh water.

We've hit the trifecta.

OK, I'll bite.
What in the blue blazes is "TRIFECTA"?
It's in the dictionary.

It's a horseracing term, that more generally means getting three things to happen at the same time.

Generally considered to be a good thing, as in "Lucky me, I hit the trifecta."
A more relevant term is "the three sisters", which at sea means the arrival of three huge waves from different directions, guaranteeing capsizing of any ship unlucky enough to be caught in their embrace.
No doubt you're right -- the quote was President Bush's response to Mitch Daniels in justifying deficit spending (in this case a tax cut) in the face of the trifecta of war, 9/11, and a recession.