Arminians vs. Calvinists

Here's my problem with this classic debate: time. I readily admit that I haven't read all the literature on this subject, but from the books I have read, the Calvinists believe that those who are predestined to salvation are elected in eternity past.  He then empowers them by His Spirit to have faith and believe.  Arminians believe that God sees into the future, through his foreknowledge, those who will believe on His name and elects them based on their faith.

Both of these ideas require God to exist in time.  Granted, this concept of God can travel through time, or at least see into the future like a wizard with a crystal ball, but He deals inside a concept of time nonetheless.  If God exists outside of time, if time was created with space in Genesis 1:1 (that's an Einsteinian thing) then it is possible that God elected those predestined for salvation in His foreknowledge while simultaneously knowing that the elect are those that respond to Him in faith without any need for a "what happened first" discussion.

Doesn't that solve the problem?