I just can't see this happening - certainly not in this term.
First of all, the Obamabots are fully aware that their fearless leader is slipping - both in the polls and in image control. Obama has largely lost those independents who were suckered in by his "Hope and Change" mantra.
Obama is being seen more as a clueless, undiplomatic and narcissistic technician who doesn't even have the charisma that Slick Willie had. Therefore, Obama and his Chicago thugs, while having planned for a drop in popularity, are surprised to realize that their miscalculation about how adamant middle Americans are toward bailouts and bowing and wedding anniversary junkets to NYC has had, and continues to have, disastrous effects for the Zero.
I see the Zero dialing back and otherwise being far less likely to come up with rash, stupid, and one-world-order ideas like this one.
The Zero may be a putz, but he and his handlers are not stupid. They're gonna sit back and wait, placate the moonbats with more empty promises, and do only that which they have to, the healthcare abortion being absolutely priority #1. The Zero owns that piece of shit legislation and while he may run, duck and hide and leave Pelosi and Reid twisting in the breeze, he won't do much to aggravate the populace any more.
Of course, all bets are off when/if Obama/Reid/Pelosicare passes, because he'll then consider that enough of a victory to pull the checkbook out and start spending money like a drunken sailor again.