Democrats don't run a candidate, as Obama becomes the most unpopular president of the US History after his 2nd term (9/89 approvals), because of millions of scandals (he's Herman Cain 2.0) and the 16% unemployment. The crisis is still here in 2016, and worsened. Republicans aren't beloved by the people, either, so an independent movement surges, with Occupy, numerous independents and Libertarians gaining senate and house seats(and even the governorship of GA with Yelnoc) all around America in 2014.
Governor Yelnoc decides to run as an independent. Libertarians, who are polling 15% with a generic candidate, decide they'll give their support to the governor if he chooses a Libertarian VP. Senator JBrase from TX is the chosen one, in order to appeal to the Republican South.
SuperSonicVenue, senator from NC, easily wins the primaries, and decides to have PA governor 20RP12 as his VP nominee, because he can "steal" some Libertarian votes from Yelnoc.
Yelnoc wins the election easily, with the support of the left (the ones who used to vote demcorat), a majority of the now-powerful Libertarians and a majority of independents. SuperSonic underperforms polls, as polls indicate Yelnoc will win anyway and some traditional republicans refusing to vote for 20RP12, as they don't consider him a real republican.
Yelnoc (I-GA) / JBrase (L-TX) 56% 413 EVs
SuperSonic (R-NC) / 20RP12 (R-PA) 37% 125 EVs
Others 7%