President Ted Cruz (R-TX) / Vice President Michele Bachmann (R-TN)
Fmr. President Barack Obama (D-IL) / Governor Terry McAuliffe (D-VA) ✓
It would take a little more than that for Cruz to win in 2012 IMO, probably a double dip recession caused by a few different decisions in the European debt crisis or maybe a big terrorist attack.
My guess is that Cruz, like any Republican president elected then or Obama IOTL for that matter, wouldn't have a great time. Democrats could bring back the Bush era playbook over the Snowden leaks, probable intervention in the Middle East (less likely to put boots on the ground in Syria or start a war with Iran than Romney IMO, but there would definitely be elements in his administration pushing for it), and attacks on Obergefell v. Hodges. There would also be backlash to ACA repeal. Obama wouldn't come out of the primary fight with Clinton and Sanders undamaged (McAuliffe- a Clinton ally- as VP seems to suggest some concessions had to be made), but he could win a close one.
