Compromise - settle by mutual agreement

As an educated citizen, you follow the discussions on TV, radio, media.  One of the biggest political problems that is facing America at this date, is raising the deficit limit.  America has a good credit rating to this point, however, if the deficit limit is not raised so America can continue to write checks to pay bills, America could be faced with defaulting on interest payments to the bond holders that have been supporting our economy.  That would be very bad for America.
Currently the Republican Party has a majority in the House of Representatives, the body in Congress that is the only one that can initiate revenues for the government.  The President and the Senate are in the hands of the Democratic Party.  There is an impasse between the two majorities about the deficit limit.  The Republicans are unwilling to have any taxes raised on the wealthy, nor taking away subsidies to corporations, or tax breaks for the wealthy.  The Republicans desire the Democrats to make spending cuts in Medicare and Welfare, of which there is starting to have some movement towards Compromise.
The date for the settlement must be struck by August 2nd.
Both sides of this "battle" seem to be weakening, which is what is necessary to reach a compromise. It is up to you as an educated citizen to search out both sides of the issue, study them and be able to support your position to neighbors, letters to the editor and Congressmen, and friends.  Up to this point the Republicans have been adamant they were not going to compromise in any way.  They are taking a second look, can you find out what they are looking to compromise on?  The Democrats? Once they try to "Compromise" can either side get everything they want?  Both sides will be able to go back to their constituencies and explain that they fought hard for their positions, however the compromise included what was good for the entire population and the economy.  They will have to attempt to get what they were trying to get in their original ideals at some later time.