For those who didn't take Economics 101 (or took it and forgot most of it about twenty minutes after you took your final), here is an excellent explanation by Megan McArdle of why the whole idea of a "gas tax holiday" is useless pandering (and worse) by our politicians.
Like about a zillion economists and most other people who were not whacked upside the head with a stupid stick, I think it's worse-than-useless pandering. There's not so much a debate as a bunch of economists saying "this is bad policy" and two campaigns sticking their fingers in their ears, saying "lalalalalalalalalal I can't HEAR you!"
Read the whole post, including pretty charts, for a much clearer understanding of the whole debate.
