If at First You Don’t Succeed

As the average price of gasoline nationwide topped $4 a gallon this week, Sen. John McCain said he would renew his call for a summer gas tax holiday.

The idea was roundly panned by economists (including the ones on this blog) when McCain and Sen. Hillary Clinton first raised it in May.

This time around, McCain says he won’t “pretend that it’s an answer to our energy problems,” but that lower-income Americans will nevertheless appreciate the relief.

The jury is still out, however, on whether the plan would provide much relief to struggling families — or any relief at all.