CJ Cawley - 4W

Link: http://www.washingtonpost.com/opinions/catherine-rampell-the-coming-of-age-ritual-of-spend-now-save-later/2014/11/13/5fd9314e-6b73-11e4-a31c-77759fc1eacc_story.html

What is the editorial's central claim?

The central claim of my editorial is that the young generation of today is saving more than their parents, yet are still given a bad name for ‘not saving enough’. Although they are only doing the same as what their parents before had done, todays generations between zero and 34 are actually saving more than currently believed.

2. What is a significant piece of evidence used to support the argument?

In the beginning of the editorial a graph is given showing Moody’s data showing varying savings over the years in different age groups. The data shows that no matter what decade you’re in, young people always have a negative savings, a ‘dissavings’. But, the early generations have a worse savings rate than those today. The generation of now is seen as foolhardy and irresponsible with money, yet we save more than those who call us these names when they were young. 

3. What is your opinion of the claim? Add your voice.

In my opinion I see frugal spending as something unimportant. In order for an economy to expand, people must be willing to spend money. I’v learned in history class and in economics class that a little bit of debt is a good thing. It empowers the individual to work harder so they can afford and pay off their debts. On the opposite side, too much debt will damage our economy. I see that the spending of our young generation stays too high with little savings, we may be hurt in the future. But, for now, I see it as something that will help us.