Bush hands over horses' ass trophy in quiet Rose Garden ceremony.

WASHINGTON, DC — Former President George W. Bush was stunned to learn that his reign over the coveted "Golden Ass" has come to an end so quickly.

In a hush-hush ceremony in the Rose Garden, Bush was to turn over the mantle of Worst President Ever to current sitting President Barack Obama.

Clint Eastwood was unavailable for comment.

"I thought I'd have this thing above my fireplace in Crawford for a few more years ... At least until Jeb considered to seek the highest office in the land." Bush joked.

Bush also fretted that the upcoming sequester played a part in the changing of the guard.

"I know it took me an extra sequester or two to get through Yale, but c'mon, are we really gonna hold that against this guy ... learning is fun and mental."

The assassination of Osama Bin Laden not withstanding, analysts tabulated the remaining failures of the Obama Administration, and determined the surprising outcome.

Columbia Political Science Professor Hans Glaser enumerated several reasons for Obama's win. "Unemployment over eight percent for a record 44 months, labor participation rate drop of three percent, fallen household incomes, Afghanistan, the Chevy Volt, Solyndra, corpseman, I'll have more flexibility, Four dollar gallons of gas, Egypt not-an-ally, the Arab Spring, Benghazi, You Didn't Build That, Jay Carney, and Sequestration, just to name a few."

"I can't believe I lost to this shmuck." Bush lamented, unaware that Senator John McCain was the Republican nominee who fell to Obama in 2008.

The ceremony concluded even though President Obama, who cited more pressing matters — failed to show.

Bush placed the golden ass on the empty lectern, shrugged and walked out of the Rose Garden.

RELATED: Carter hands over horse's ass trophy in quiet Rose Garden ceremony.