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.