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The Day That the Government Died (In Verse)

"Bye, bye American 'pie'

Drove my Chevy off the levee"
But the levee was high.

And the politicians were all sitting
Drinking "whiskey and rye
Saying 'this was the day that she died.'
Saying 'this was the day that she died.' "

Apologies to Don McLean

In prose:

Americans just lost their "pie," driving their American-made cars (and car companies) off a cliff (but the levee was high).  With the punch-drunk politicians cheering them on.