GMAT考试写作指导：Issue写作范文八十

　　80. Whether an individual saves too little or borrows too much depends on the

　　purpose and extent of either activity. While appropriate and prudent in some

　　circumstances, either can be irresponsible in excess. The evidence suggests that, on

　　balance, people today tend to borrow irresponsibly and are on the brink of saving

　　irresponsibly as well.

　　Traditionally, saving is viewed as a virtue, while borrowing is considered a vice.

　　However, just the opposite may be true under certain circumstances. Foregoing saving

　　in favor of immediate spending may at times be well justified. A serious hobbyist, for

　　example, may be justified in foregoing saving to spend money on a hobby that provides

　　great joy and fulfillment―whether or not it also generates income. A relatively

　　expensive automobile is justifiable if the additional expense provides added safety for

　　the owner and his family. And foregoing saving is appropriate, and often necessary, for

　　rainy day medical emergencies or unanticipated periods of unemployment. Borrowing

　　can also be prudent―if the loan is affordable and applied toward a sound long-term

　　investment.

　　Were saving and borrowing limited to these types of scenarios, I would aver that

　　people today save and borrow responsibly. However, the evidence suggests otherwise.

　　Americans now purchase on credit far more expensive automobiles, relative to income,

　　than ever before―vehicles that are far more than what is needed for safe transportation.

　　Excessive credit-card debt, another type of unjustifiable borrowing, is at record levels―

　　and rising―among American households. Does the baby-boomers current penchant for

　　retirement investing compensate for these excesses? Probably not. This trend is fueled

　　by unrealistic expectations of future returns; it may therefore, escalate to speculation

　　and, at its height, widespread leveraging―i.e., borrowing. Such speculation is more

　　suited to highly sophisticated investors who can well afford to lose their entire

　　investment than to average Americans and their nest eggs.

　　In conclusion, while people seem to be saving aggressively today, their investment

　　choices and concomitant high spending and borrowing levels call into question the

　　assertion that we are indeed a nation of savers.