President Barack Obama says it appears Congress is "on target" to approve a massive new stimulus package by Feb. 16.
He spoke Friday after meeting in the White House's Roosevelt Room with top Democratic and Republican leaders from Capitol Hill. Obama says he realizes the package is "a heavy lift" for many lawmakers, but that the urgent economic crisis demands action.
Obama also says that any legislation governing the use of an additional $350 billion in financial industry bailout money must include new measures to ensure accountability and transparency.
Check back soon for further information. AP's earlier story is below.
Congressional leaders and President Barack Obama are having a hard time finding common ground on an economic recovery plan as Republican resistance to the stimulus package emerges in the House.
The president and top Democrats and Republicans from the House and Senate planned to meet Friday to discuss the status of the spending and tax cutting legislation that Obama has demanded to confront an ever weakening economy.
