WASHINGTON — The leaders of the nation’s two dominant political parties announced this morning that they’ve reached a definitive agreement to merge into one super-party in time for the 2012 elections.
Although terms of the deal were not announced, insiders who declined to be identified say that a new corporation will be established to acquire the assets of both the Democratic Party and the Republican Party. It’s expected that the newly combined party will have a market value of roughly $7.8 trillion, according to an economist at the Federal Reserve.
“The more we talked about it during the debt negotiations, the more obvious it was to all of us that we needed to consolidate our operations,” said a clearly jubilant Barack Obama, who will serve as president of the newly merged party. “We realized that we’re both working for the same things, so there was no sense in us opposing one another and duplicating our efforts.”
The name of the new party will be unveiled next week, but insiders say the two finalists are the Demopublican Party and the Republicrat Party. Demopublican was considered the frontrunner because of its association with democracy. A new logo combining the two parties’ long-time symbols has already been released.