If you don't know about this presidential directive you might find this interesting: http://www.youtube.com/watch?v=K3dAnSMzUlo&feature=related Essentially it allows the president to define and declare an emergency and take complete power of all government agencies as well as coporations. There might well be such an "emergency" before the 2008 election, thereby leading to it being cancelled.
I sure hope so, maybe afterward the elephants and the asses could come up with some decent candidates.