We've been having some good discussions over this topic. However, there is a collorary issue raised in my original post that I'd like to explore more fully.
Aside from the corruption and contempt for the public our current leaders have, it cannot be overlooked that the current crisis didn't come upon us by accident. A major part of the problem has been the complacency, ignorance, and sheer stupidity of the American public itself.
This is one of the main reasons I've drawn the conclusion about the inevitablility of dictatorship: I sincerely doubt the American people could govern themselves, even if they recovered the right to do so. For example, when we talk about privatizing the educational system: how will this resonate on a public that holds education in disdain?
I remember during the 2008 campaign, I spoke with some Democratic Party operatives about the Ron Paul campaign. They agreed with me that Ron Paul had some good ideas but told me (on more than one occasion) that their strategists didn't fear him as a candidate because Ron Paul 'talked over people's heads'. Cult-figure candidates like Schwarzneggar, Palin, and others show that Americans want candidates who are celebrities with no intellect at all.