One scenario not many people talk about: neither candidate gets 270 electoral votes and the House of Representatives decides on the next President. Very possible this election.
Meh, not really all that possible. Assuming the toss-up and leaning States, there's only about 11 different, and unlikely, possible combinations that would result in the magic number of 269 for both candidates. There are 538 total electoral votes / 2 = 269. In other words, ONLY if Obama/Romney TIE will the House be allowed to vote, and even then the House would require a two-thirds participation within the House of Representatives in order for a majority vote to count. Add to this, the vote will need to occur before the 4th of March. If such a vote does not occur, then the standing Vice-President (Biden) becomes the U.S. President for that term (4 years).
To make it clear, even in the exceedingly unlikely event of an electoral tie occurring (269/269), the Republicans do not have a two-thirds majority (290) sitting in the House. The Republicans have 241 Representatives, Democrats have 191. The Democrats can, and likely would, take turns showing up at the House of Representatives to ensure there is never more than 288 total Representatives attending House sessions up until March 5th, thereby preventing a House vote for the President.
It is reasonable to assume that
IF a tie were to occur, Biden will become the President.
Something to consider.