Generic vs. Name Brand

It's a constant debate in our house. Trips to the grocery store are stressful. Why? Because of the decision to buy brand name or generic. Silly I know, but since I'm usually the one that shops for food and does primarily most of the cooking, I feel it's my decision. Some of you may know exactly what I'm talking about. You may go through the  same thing all the time..

It's three against one. I'm normally the frugal one trying to pinch pennies and the other side is all about "taste." Generic brands don't taste the same is their argument. I say whatever, food is food! Now there are a few things I won't skimp on but for the most part I'll do generic anyday. Some may call it cheap, I say I'm trying to save money here and there.  Do you agree? Does it matter? Is there a major difference between Tootie Frooties and Fruit Lo0ps, for example?