Amy Fried, writing in Salon, says the Republicans are still the impeachment party. 

I agree. And it seems possible that before the election, Obama will be impeached by the House then tried in the Senate.  

Here's how it could happen. 

1. We get close to the debt ceiling deadline. 

2. The President announces that he's told the Treasury to mint the money needed to run the government through the election. Or he's invoking the 14th Amendment and ignoring the fact that Congress has failed to raise the debt ceiling. Either of them would be the responsible thing to do. He will say to the people, the Constitition should not be seen as a suicide pact. And he'll be right about that. All adults will agree.  

3. Further, he says the 2012 election can be a referendum on how the people want their money managed. Do they want Medicare, Social Security, an army, to pay its debt, support infrastructure, the environment, law enforcement, fire protection, etc. If they don't want all that, they can vote Republican. If they want to keep it, vote for Democrats. Then once and for all we can get past the bullshit about how the American people want what the Republicans say we want. 

4. The Republicans will then play the next card in their hand. Impeachment. With a majority in the House, they could impeach the President at any time. Remember they came into office saying they believed in the Constitution as an absolute. All they have to do is provide some theory under which he has been guilty of high crimes and misdemeanors. Going around Congress on the debt ceiling seems likely. 

Whether they have the guts to do it, your call.