Today, the Center for American Progress (CAP) proposed a Practical and Progressive Economic Stimulus and Recovery Plan. The plan's preamble includes some hyperbole: [I]f Washington cannot now take measures to address the short-term weaknesses in the economy, then the first years of the next Administration will be consumed by that challenge—leaving little capacity for progress on health care, the transformation to a low-carbon economy, and creating the conditions for long-term growth and economic opportunity. But the plan itself is mostly restrained, its main outlines based on what Larry Summers calls his "timely, targeted, temporary" mantra. Still, CAP says, "the heart of any progressive economic recovery plan should be a very significant effort to stem the decline of home values." Query whether any such effort could be implemented in a timely manner. And CAP offers no concrete proposal, saying only, "we must design a mechanism that would rely upon existing market players, the existing mortgage finance delivery systems, and familiar financial market instruments coupled with federal credit enhancement." The plan endorses targeted tax rebates and a temporary increase in food stamp benefits, but makes no proposal regarding optimal amounts to be provided or eligibility for such assistance. The plan further advocates "raising federal Medicaid matching rates [to] maintain state health spending" but recommends no matching rate or duration. It is similarly silent regarding specifics of the unemployment insurance extension it calls for. Finally, the CAP plan urges "help [for] consumers with rising energy costs, increase[d] efficiency, and spur[ring] Green Job creation." While LIHEAP assistance would probably have a highly stimulative impact, again, no specifics regarding amounts of assistance are provided. But would "job training programs that include new 'green collar' jobs" and an "increase federal support in 2008 for improving the energy efficiency of residential housing" translate into rapid increases in consumer spending on a par with the expenditures involved? Without further details or justification, the plan appears offhand to fall short of the requirements of the Summers mantra for a successful stimulus package.