WASHINGTON: Early Tuesday evening the members of the House GOP and the Obama Administration reached the first of a series of compromises on balancing the budget and a deficit reduction plan. In a move that surprised almost everyone, the two sides agreed to one key component of the deal well ahead of the deadline, commonly known as the "fiscal cliff".
"The deal that was reached will help raise revenues for the federal government, to help create a fair and balanced budget deal that can eventually reduce the overall federal debt by 2018." said one Obama aide.
In this deal, the two sides agreed to set aside $42 million to purchase Powerball tickets in stores across 37 of the 50 states. The winner of this record Powerball drawing will collect more than $200 million after taxes, more than enough to finance some of the government's aid programs.
One Republican Congressman exclaimed, "I could not be more satisfied in reaching this budget agreement. We were able to raise revenues without raising taxes on any Americans. Hopefully, we'll be able to forge ahead on further talks in the coming weeks."
The House is set to vote on this deal tomorrow morning, where it will be moved on to the Senate directly following lunch. It is expected to pass with ease in both chambers.