In the mood for unplausibility, total weirdness, and crazy timelines?
I am.
2006
Republicans keep control of the Senate and the House by a whisker.
2008
In 2007, President Bush invades Iran, while keeping troops in Iraq. The Iran War becomes a second Vietnam, with high casualties and staunch resistance from Shia insurgents and the Iranian regular troops. The Democrats have been unable to put a stop to the war and many people have enough of the war. Many Democrats and moderate Republicans, as well as important Republicans such as Giuliani and McCain join the new Populist Party, led by Maryland Senator Michael Freeman (invented), former Democrat. Freeman wins the Populist primaries without any sizable opposition and rallies a strong opposition to the war.
Election Night is closer than expected. Freeman wins by a whisker in California, allowing him to win the required 270 electoral votes.
2010:
In mid-term elections, the Populists reaffirm their control of both houses, winning 22 of the 34 races in Senatorial elections.
2012:
After the 2008 debacle for the conservative Republicans to the centrist Populists, who had already stolen many moderate Republicans and Democrats, the Republicans moved towards the center, and changed its name to the Progressive Republican Party. Vice President McCain joined the PR Party, leaving the Populists.
In 2012, the Progressive Republicans nominate Mike Huckabee of Arkansas. Incumbent President Mike Freeman gains the Populist nomination. The remaining Democrats decided to run a l ticket of Dennis Kucinich. However, mainstream Democrats side with Freeman.
The campaign is mostly played between the center-right Progressive Republicans and the center-left Populists. Freeman gains re-election with a large margin of victory.
2014:
In mid-term elections, the Progressive Republicans win control of the Senate by winning 18 of the 34 Senate races. The Populists retain the House by a severely reduced majority.
Next: 2016 Presidential Elections