According to the RBC Cash Index, consumer confidence sunk to deeper lows this month--the deepest we've seen since 2002. Right now, consumer confidence is at a mark of 29.5, compared to 33.1 in March, and 89.5 in April 2007. Economists and strategists point their fingers at high gas prices, an injured housing market and a sharp influx of unemployment.

Yet, there continue to be some glimmers of hope--small businesses made 55,000 new jobs recently and there were actually fewer unemployment claims this past week. Also, President Bush met with owners of small and mid-size businesses to encourage them to take advantage of incentives and to make capital investments in hopes of restoring consumer confidence.--Whitney Chen