According to CNBC, consumer confidence has hit a 16-year low in June.

The Conference Board’s monthly survey of consumers showed the overall index of consumers’ mood fell to 50.4 in June, the lowest since 47.3 in February 1992.

With gas prices at an all-time high, food prices souring, and the repeated talks of us heading straight into a recession, I can certainly see why confidence among the American people is quite low.