Nancy Crago Can Kiss Our You Know What

Today's Trib featured an article on Pittsburgh's Mayor and his reputation for thriftiness.  All fine and dandy. People should save.

But we do take exception to a quote from Penn State's Nancy Crago in same article:

A "Pittsburgh Saves" brochure titled "Build Wealth Not Debt" suggests saving $50 a month in an account with a 5 percent yield would amount to $29,775 in 25 years.

Organizers acknowledged that interest rates are much lower.

"But even if it's 1 percent, you'll have more at the end of the year," said Nancy Crago, senior extension educator at Penn State Cooperative Extension in Allegheny County. Crago suggests people eat out less often, forgo coffee shop beverages and work to lower utility bills.

Really?  And what will that do, Nancy, other than put more local people out of work?  And people who are already on the low end of the pay scale as it is, often as a second job so they have something TO save?  We forget, your salary is paid by State College, not Pittsburgh.  What do you care about what happens here?  Hey, while we're at it, why not pay JoePa a million less so your undergrads can afford a cup of coffee at Saint's Cafe?

Why is always "eating out" and "coffeeshops" that are the examples given for this kind of psuedo "expert" analysis?  How about buying less stuff you don't need in general and trying to keep purchases local when possible so you're actually supporting your neighbors and keeping tax revenues here instead of giving more to mega-corporations that rely on near-slave labor from overseas? 

When people stop going out for food and coffee, what would you like all those unemployed cooks, waiters, bussers, bartenders and baristas to do for work?  Can one actually save when the only income is an unemployment check?

Nancy, if you haven't noticed, the dairy industry is in danger of collapse.  That's a pretty big deal in PA.  Just so happens coffeeshops use a lot of milk.

Many restaurants are already knee-deep in angst and financial worry.  Reduced bookings for holiday parties and fewer dinners out have already taken a big bite out of revenues.  Yet you want more.  Under your plan, in a year or two the only dining options will be Chick-Fil-A and Olive Garden.  We imagine you're perfectly fine with that.

Many coffeeshops also provide a working and social environment for businesspeople who are forced to be independent contractors because there aren't many decent jobs available.  And, they remain one of the few places where neighbors can socialize relatively inexpensively.

To all coffeehouses and restaurants: if you see this woman, please give her a piece of your mind.  Or, as many bars have done regarding the pols who supported the drink tax, refuse to serve her.

And send your kids to Pitt or Duquense until Penn State starts employing only people who think before they talk as spokespeople.

Comments

[Luke]

Mayor Save-enstahl, I mean Redd-up-enstahl, I mean Steelerstahl needs to practice what he preaches.

http://www.pittsburghlive.com/x/pittsburghtrib/news/cityregion/s_611996.html

For the record I went to PSU.

[Rich]

How's that basketball team doing? ;-)

[Amy]

Right on! Maybe a little Italian potion for her drink? I have one that will keep her busy for awhile in one of the restrooms at PSU!

[Amy]

BTW, Rich, WHY on earth are you reading the Trib?

[Rich]

Google news reader.

[Matthew]

I see your point...kindof.

I think that she could have been more responsible in stating that people should make sure that they are creating reasonable budgets and then sticking to them instead of blaming coffee shops and restaurants as being the problem.

But, if your average Joe is "underwater" on his debt, he can either spend a buck in your store and keep you in business, or NOT spend that dollar in an effort to keep a roof over his head.

The sad truth of it is that a lot of the businesses that are around today exist only because of the massive amounts of consumer debt that society has created. Clear away the debt, and lots of jobs are affected (See Detroit).

It's a difficult balance between keeping the economy solvent and keeping yourself solvent--it's not really fair to criticize anyone who chooses the latter over the former.

[Rich]

Matthew,
Good overall points, but Nancy's still guilty of irresponsible comments against the food industry in our opinion.

However, your comment has inspired us to develop our own list cost-saving tips for the average joe-consuming Joe (or Jill). It'll be up shortly.