ROMNEY PROPOSAL TO TACKLE PROBLEM OF MASSIVE STUDENT DEBT: "BORROW MONEY FROM YOUR PARENTS."
THINK PROGRESS, April 27, 2012 -- If you’re young and you want to start your own business, Mitt Romney’s has some advice from you: Borrow money from your parents.
At a “lecture” for students at Otterbein University in Ohio today, Mitt Romney told students that, his friend, Jimmy John, started a business by borrowing $20,000 from his parents at a low interest rate. Romney suggested anyone in the audience could do the same.
ROMNEY: "This kind of devisiveness, this attack of success, is very different than what we’ve seen in our country’s history. We’ve always encouraged young people: Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business."
His advice fits right into the characterization that Romney is ‘out of touch’ with regular people. Most students don’t have parents with $20,000 in disposable capital sitting around to give to their kids to start a business.
At a “lecture” for students at Otterbein University in Ohio today, Mitt Romney told students that, his friend, Jimmy John, started a business by borrowing $20,000 from his parents at a low interest rate. Romney suggested anyone in the audience could do the same.
ROMNEY: "This kind of devisiveness, this attack of success, is very different than what we’ve seen in our country’s history. We’ve always encouraged young people: Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business."
His advice fits right into the characterization that Romney is ‘out of touch’ with regular people. Most students don’t have parents with $20,000 in disposable capital sitting around to give to their kids to start a business.
Right!!! Good advice!!! At least for those fortunate enough to have money to spare...like Romney and all his friends. AS for the rest of us...