On Thursday, in an interview with the Wall Street Journal, House Speaker Nancy Pelosi (D-CA) said that she is considering a two-stage economic stimulus strategy. The first would be a bill totalling $60 billion to $100 billion (composed of what exactly, she didn't say) and would be passed in November during a lame-duck session of Congress. The second bill would be composed of tax cuts and passed in early 2009 (totalling what exactly, she didn't say). Calling the first a "down payment," Pelsoi said that "the economy needs something sooner" and that Congress "take the longer view as soon as we take over in January."

But on Friday, House Majority Leader Steny Hoyer (D-MD) said that a lame-duck session would be unlikely if Congress and President Bush could not arrive at some sort of agreement on what an economic stimulus package should look like. However, guaranteeing (even more) loans to the failing auto industry could be sufficient to warrant a late-inning session.

House Speaker Nancy Pelosi (2nd-R) and House Majority Leader Steny Hoyer (R), along with other members of Congress, participate in a meeting with executives from American car companies on Capitol Hill in Washington, DC. (AFP/Getty Images/Brendan Hoffman)