Obama Easing Off the Gas

Uh oh. Obama is moving backwards on higher gas taxes, and his energy secretary, Steven Chu, isn't pushing him back forward: "Obama's (Gas) Taxing Problem." [Link courtesy of Greg Mankiw's blog.] I know he has a lot on his plate, but higher gas taxes kill lots of birds with just one stone. Spend your political capital now, President-elect Obama, especially if you can more than offset any temporary pain at the pump with lower payroll taxes.