In Michigan, consumer sentiment is pessimistic before midterms

Due to high fuel and housing costs, and wages that aren’t keeping pace with inflation, consumer sentiment is lower than at almost any other time in modern history. CBS News spoke with Michiganders to find out how the economy is playing on the minds of voters.

Due to high fuel and housing costs, and wages that aren't keeping pace with inflation, consumer sentiment is lower than at almost any other time in modern history. CBS News spoke with Michiganders to find out how the economy is playing on the minds of voters. In most of the country, autumn is campaign season. But in Michigan it is also cider season. The Franklin Cider Mill is an institution in suburban Detroit that churns out hot donuts and ice-cold cider slushies. Between bites, we asked visitors to assess the state of their wallets three weeks before Election Day. "I would say most are struggling, if I'm being honest," one woman said.

Another man offered, "I don't feel great about the economy right now." Jeffrey Robinson, a high school principal, put it succinctly: "It sucks," he said. "We have parents that carpool that are finding it hard to keep gas in the car." If it seems like people are feeling especially gloomy about the economy, Joanne Hsu has the proof. She runs the nation's longest-running consumer sentiment survey at the University of Michigan. It dates back to 1946. She says that, since the start of the Iran conflict, "We've been seeing quite a bit of decline in consumer sentiment across the board, across all