Republican presidential candidate Senator John McCain (R-AZ) suggests much of America's economic woes may be merely 'psychological'.

In a recent interview with Fox News, McCain said the fact that America's oil and gas prices have reached all-time high has deeply concerned him.

"I'm very concerned about it…. And obviously the way it's been going up is just terrible," claimed the Arizona senator.

"But I think psychologically - and a lot of our problems today, as you know, are psychological - the confidence, trust, the uncertainty about our economic future, ability to keep our own home," he added.

McCain explained that his proposal to eliminate the federal gas tax for three months would provide Americans the necessary 'psychological boost' to deal with their economic problems.

"Let's have some straight talk. It's not a huge amount of money, but it might be nice to be able to save a few bucks and maybe buy something else the next time that they have to fill up their gas tank, and say, you know, I'm going to be able to afford that little extra expense now," he concluded.

Political pundits remain skeptical of McCain's prescription for US gas problems, arguing that most of the tax break will go to corporations, not families.

SBB/RA