Good thought, but two points. First, the GOPe is unlikely to grow a pair and will sound a lot tougher than they will be, and second and most importantly: Obama is moving heaven and earth to marginalize Congress. He has established some sources of funds no longer subject to Congress (like the funding for the Consumer Financial Protection Agency), money paid back from bailouts, and the Fed purchases of debt; and he is ruling by regulation and decree and a super-majority in Congress would be required to even try and stop him. An Obama win in 2012 will end our present form of government de facto if not de jure. Look to Venezuela on how this can play out.
And in your post is the kernel of why I do not think there will be elections in 2016.
But I also do not think Obama will finish his term.
I believe that he is one of two things:
1. The amateur that he appears to be to many. In which case he will go down hard.
2. He really IS as smart, and deceitful as many believe. In which case he is probably the beast in Revelation and it will take God’s overt, direct involvement to clean up the mess.
We’ll know soon enough.