With the economy wrestling an "unprecedented" crisis, President Barack Obama urged the congressional leaders, at a meeting in the Roosevelt Room on Friday, to consent on the Democrats' economic stimulus package of $825 billion.

Accepting the fact that even though there are "some differences" between his administration and lawmakers on account of some details, Obama said the legislation is "on target" so far as its mid-February passage is concerned.

As the GOP leaders appeared from the White House, they released a counterproposal to the stimulus package, with the implication that even though they are less confrontational on the policy now than before, the deep divide between the two parties has not yet closed.

However, leaders on either side of the aforesaid divide expect their discrepancies to be resolved soon. As early as Wednesday, the House will likely vote on the stimulus plan. According to Robert Gibbs, White House Press Secretary, early next week, Obama intends going to Capitol Hill "to talk to the Republican caucuses and solicit their input and their ideas."

In the case of lawmakers failing to find common ground, Obama would probably strike a midway path in the face of the ongoing crisis - he will compromise certain features of his economic strategy, thereby pursuing his goal of broad bipartisanship.

Obama told the leaders at the meeting: "I think unifies this group is a recognition that we are experiencing an unprecedented, perhaps, economic crisis that has to be dealt with, and dealt with rapidly."