Barack Obama's campaign is considering a suggestion from John McCain's campaign for the two presidential hopefuls to participate in joint town meetings and debates around the country starting this summer, Obama's chief strategist said Sunday.

John McCain is the expected Republican presidential nominee. Obama is closing in on the Democratic nod.

Senator Barack Obama (D-IL) pats Sen. John McCain (R-AZ) on the back as he arrives for a hearing of the Rules Committee on Capitol Hill in Washington, February 8, 2006. Obama and McCain both spoke to committee members about overhauling the rules of lobbying. In a flare up earlier this week, McCain had accused Obama of "partisan posturing" on lobbying ethics reform. REUTERS/Kevin Lamarque

Asked about the suggestion and how seriously it was being considered, David Axelrod, Obama's chief campaign strategist said: "Very seriously."

"We believe that is the most significant election we've faced in a long time," he said on "Fox News Sunday."

"We're at war. Our economy is in turmoil. And we've got so many challenges that the people of this country deserve a serious discourse, and it shouldn't be limited necessarily to three kind of very regimented debates in the fall," he added, referring to those sanctioned by a presidential commission.

Axelrod declined to discuss details. So did aides to McCain, saying they'd rather wait until they have an official opponent.

"We ought to begin sooner, and we ought to have a free-flowing conversation about where we want to take this country," Axelrod said. "So you know, we're interested in that proposal and eager to sit down and talk about it."