Consumer Sentiment Down

“University of Michigan’s closely watched gauge of consumer confidence slipped to 87.2 in June from May’s 92.1,” Reuters reports. Gains in the stock market (it’s about where it was a year ago, after being way down), and dividend tax cuts, cuts in the top marginal rates, and expansion of the 10% bracket, are apparently not enough to offset the fears caused by steadily increasing unemployment and ballooning deficits.