Pretty much a dead heat then. You'll have to forgive my ignorance on the US electoral system, but in my own country if neither party won an outright majority of seats, there would be a possibility of a coalition government, in this case Republicans or Democrats with Libertarians, which actually sounds like a half way decent Presidency. I suppose the US system, doesn't have provison for a coalition government, at my understanding is whatever the percentage of votes, a party will win outright. Yeah, for President whomever wins the most electors gets the gig. The same goes for Congress except it's the percent vote like you said. The States are different though, some States have a runoff if no one gets 50% with only the top two eligible for voting. It's very hard for a third party to get into office although it has been done in Congress and President Lincoln won as a third party creating the Republican party.