Mark Steyn has an interesting perspective on this bit of symbolism:
It was a bright cold day in April, and the clocks were striking thirteen.I see the Obama campaign has redesigned the American flag, and very attractive it is too. Replacing the 50 stars of a federal republic is the single “O” logo symbolizing the great gaping maw of spendaholic centralization. And where the stripes used to be are a handful of red daubs, eerily mimicking the bloody finger streaks left on the pillars of the U.S. consulate in Benghazi as its staff were dragged out by a mob of savages to be tortured and killed. [read the rest here]
George Orwell, "1984", first sentence