Obama might be the last U.S. president.
How that will happen, within the law or by "other" means, is the question.
At various times, America has been broke, subject to foreign pressure, and in a great depression before (1790's, 1870's).
If history repeats itself, the most actue situation we may be in looks like South Carolina in 1871 (a broke state government, looted by legislators, with citizens over-regulated by reconstruction policies).
Right or wrong, it was tactics employed in a citizen's rebellion, that turned that tide.