The phrase is worse than meaningless. It is deployed at times when the occupant of the office is a perjurer, has been caught sodomizing an employee, is a crook, is a traitor, is an illegal alien, is a Communist, is a Muslim terrorist, etc., in an attempt to pressure people to give the miscreant respect he does not merit—as though when an illegal alien usurps the office, he deserves respect for occupying it.
I respect the office. I do not respect the current holder of the office.
It would be easier to respect the office if it were occupied.
Kind of like the tories telling the patriots to respect the monarchy and George III.
I couldn’t help but think of the classic funny animated short, “The Chubb-Chubbs”.
http://www.youtube.com/watch?v=nmhgi665Oek