That would be the Lyndon Johnson scenario. He bankrupted the country with Vietnam, the Space race and the Great Society and then didnt run for a second term claiming he needed to use that time to fix the mess he was leaving. Then Nixon got stuck going off the gold standard and leaving Vietnam after getting demonized by liberals over it (VN, they forgot about Johnson fast.) To this day blacks think he was a hero, except the ones that think he was behind JFKs assassination per Oliver Stone.
It is too soon to talk about what will happen in 2012. First I want to see what happens with the tax cuts/increases in January, and the election. And don't forget our Momma Grizzly LOL