psql \echo strangeness with :variables

Hello. Today I used a shell call in psql to save the runtime date in
a psql variable and use this to dynamically create tables with date
encoded in table name.

For some reason however, the psql \echo command can't expand the date
though it does expand in the calls to the backend.

See example below;

jsievers(at)jsievers#
= \set date `date '+%Y%m%d'`

jsievers(at)jsievers#
= \echo :date
20060524

jsievers(at)jsievers#
= \echo foo_:date
foo_:date <-- Was expecting this to expand... see below

jsievers(at)jsievers#
= create table foo_:date();
CREATE TABLE

jsievers(at)jsievers#
= \dt
List of relations
Schema | Name | Type | Owner
--------+--------------+-------+----------
public | foo_20060524 | table | jsievers
(1 row)

Seems there's a bit of asymmetry in the way psql evaluates the
:variables.

FYI

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