Consumer confidence has hit “the lowest point” since the Consumer Confidence Index began tracking in 1967.
The Conference Board said Tuesday that its Consumer Confidence Index edged lower in January to 37.7 from a revised 38.6 in December.
Consumers are worrying about keeping their jobs, their homes and they are watching their savings being whittled away. Businesses, small and large, are suffering, including my own. Things look bleak, very bleak and Republican members of Congress are bent on holding up the stimulus plan.
The longer the stimulus plan is held off, the lower confidence will go.