From Merriam-Webster OnLine:*
Main Entry: mis·un·der·es·ti·mate
Pronunciation: &"mis-&n-d&r-'es-t&-"mAt
Function: transitive verb
Etymology: Coined by President George W. Bush at Bentonville, Ark., Nov. 6, 2000
1 : to estimate a person's intelligence as being dramatically less than its actual level
2 : to insist that a person who repeatedly hands you your ass is too stupid to be able to do so.
Note to Hillary: You have been PWN3D!
Nicely done, Mr. President.
Nicely done, Mr. President.