In B4 cheap shot at the Bush administration and the Patriot act!
Irony! not really, but the cheap Alanis Morriset type at least
So she starts some kind of international incident, her approval rating drops to 20%, and she's defeated in 2016 by President Fluttershy who hands over Equestrian sovereignty to the first world power to request it with "pretty please with sugar on top?"
EDIT:
I actually see her as an awesome crisis-era president, putting together a ragtag group of misfits team that somehow functions way better than it has any right to, a la Lincoln.
Sure, she'd get bogged down in the swampy, divisive domestic policy issues. But the girl's a born leader when the horse apples hit the fan. And she'd organize the labyrinthine government bureaucracy in two shakes of her tail.