There's the answer:

On January 8, 2009,

it only takes one Senator and one House member

to jointly submit an objection that the candidate,

Barack Hussein Obama II,

does not meet the eligibility requirement

of Natural Born Citizen as required by

Article II, Section 1, Clause 5 of the U.S. Constitution.

Is it possible to have an ineligible President Elect? 

Section 3 of the 20th Amendment to U.S. Constitution states what happens if there is an ineligible President Elect.  So apparently in 1933, Congress and the People of the U.S. foresaw that it was possible to have an ineligible President Elect and passed the 20th Amendment to ensure an ineligible candidate for President Elect could be dealt with.

20th Amendment Section 3. "If, at the time fixed for the beginning of the term of the President, the President elect shall have died, the Vice President elect shall become President. If a President shall not have been chosen before the time fixed for the beginning of his term, or if the President elect shall have failed to qualify, then the Vice President elect shall act as President until a President shall have qualified; and the Congress may by law provide for the case wherein neither a President elect nor a Vice President elect shall have qualified, declaring who shall then act as President, or the manner in which one who is to act shall be selected, and such person shall act accordingly until a President or Vice President shall have qualified."

 

The entire 2008 election was under false pretense and therefore should be ruled invalid.  In that case, per the 20th Amendment, Congress should appoint a qualified President and Vice President until a new election can be held.