Well, maybe there won't even BE an election in 2008.
On 9 May 2007, President Bush signed a directive giving himself the power to run the entire U.S. government, single-handed.
Yup, you can call it the 'Dictatorship Enabling Act of 2007'.
The official title is "National Security and Homeland Security Presidential Directive {N.S.P.D.-51 and H.S.P.D.-20}" and the link below is to the White House's oh-so-very-quiet press release.
http://www.whitehouse.gov/news/releases/2007/05/20070509-12.html