Romney’s Advice To Students: Borrow Money From Your Parents

[Galraedia]

Source: ThinkProgress

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:

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.

Watch it:

Read more: http://thinkprogress.org/special/2012/04/27/473096/romney-borrow-money-parents/

[polichick]

1. Yeah, because most parents in the U.S. have lots of extra money laying around.

[Joe Bacon]

22. Mine didn't

Dad went bankrupt paying Mom's medical bills.

He couldn't even lend me a penny.

More proof that R-Money lives in a LAISSEZ FAIRYLAND!

[polichick]

58. I was just being sarcastic - Romney really doesn't have a clue.

[wordpix]

69. xactly: $20K for this kid, another 20K for that AND save for your retirement

AND keep your job if you're over 55.

It's all so easy in Rmoney world

[silverweb]

2. Riiiiiiight.

[font color="navy" face="Verdana"]And your parent(s) can always move to Mexico to lower their cost of living so they have money to "loan" you.

[sulphurdunn]

3. Romney did none of the things

he recommends. That pampered preppie lived instead of his families stock portfolio. I'm facing crushing debt to put a kid through college now. I'd like to put a hobnailed boot up this jerk's ass.

[coalition_unwilling]

30. Hell, Romney supported the draft during the Vietnam War, provided it

only conscripted poor white trash, sp*cs, and n**g**s but not him or his kind.

I'm starting to hate Romney even more than I grew to hate and despise Bush. Never would have thought it possible.

[sulphurdunn]

48. I think it's people

from that class in general. They've the been the cause of every revolution in human history. It's easy to see why.

[goclark]

61. A Dr. that I know

has a few million.

At a relaxing, informal party people were talking politics.
He said in a mean way, "Nobody better try and take any of my money!"
They he push out his chest and said, " I worked hard for my money."

Well that did it for me,Ms. goclark got right up in his face and told him ~~~~

"And what the hell do you think I worked hard for....!"
Then I had a WORD FIGHT with him and when I finished, everyone clapped for me.

He was so mad and I did not care!

[sulphurdunn]

65. Here in Amurka

it is assumed that the more money you have the harder you worked to get it and the more successful you are. It also doesn't much matter how you got the money so long as you got away with the crime or paid to make the crime legal.

[Politicalboi]

4. Yes borrow the money from your parents

That's what Mitt did. Because if Mitt gets to be Prez, your going to need more money to buy health insurance that your parents used to be able to cover you with.

I hope these students got extra credit for having to sit through a Rmoney lies.

[Ruby the Liberal]

5. Willard the Tonedeaf strikes again.

[arely staircase]

20. betcha 10 thousand dollars he didn't think that one through. nt

[christx30]

72. I don't have enough

Money to cover that bet.
I'll just borrow it from my parents.

[musiclawyer]

6. Potus needs a formula come October

1. Look into the camera with of young people arounfdhim and say
"please give America a democrat house and senate because otherwise you will have an America governed by the extreme agenda of the Republican party." Then show the clip of Romney saying kids should borrow from their parents for college

2. Look into the camera with lots of union people around him and say "please give America a democrat house and senate because otherwise you will have an America reflecting the extreme agenda of the Republican party." Then show a clip of Romney saying that he likes firing people.

3. Look into the camera with lots of vets around him and say "please give America a democrat house and senate because otherwise you will have an America reflecting the extreme agenda of the Republican party." Then show a clip of Romney saying that he does not care about finding Bin Laden

The forumala could be used myriad times for the myriad stupid and clueless things Romeny has said on tape.

[truthisfreedom]

17. It's not "democrat house". It's Democratic House. Don't use the enemy's adjective for us.

[harmonicon]

39. +1 nt

[momsrule]

40. Rather than

A republic house. A "friend "of another persuasion, became hostile after Obama was elected. She would say as often as possible demoCRAT house, senate, president, etc. Always emphasizing RAT loudly. I had enough and told her that every time she says demoCRAT party I will say repubLICK party. She went ballistic over the phone and we haven"t talked since. I'm soooo glad. They sure can dish it out!

[awoke_in_2003]

66. funny thing about enemies...

is they like to infiltrate places like this and disrupt. I believe this is one is an example.

[freshwest]

75. I don't think so. Been really since 2003. And having trouble typing. Has RA, I think.

Note the other errors. Sometimes I want to leave off the 'ic' as well, having listened to old folks who absolutely adored FDR, the New Deal, unions and the rest of it and were making a strong emphasis on the word Democrat. It was a term of pride for them.

They didn't use an adjective. This was long before the Rethugs came up with that annoying meme. And the way I've heard it used in derision is to separate and increase the word to Demon Rat.

Music lawyer's theme for a hard hitting ad fits right with what my Depression era family would have said.

[JDPriestly]

77. freshwest. Using the form "Democrat" as an adjective is grammatically incorrect.

We all make grammatical errors from time to time. But when people say "Democrat Party," they simply reveal that they are not well educated, that they do not understand English grammar.

FDR himself spoke of the "Democratic Party."

Here is proof from his nomination address at the Democratic convention in which he was first nominated in 1932:

As we enter this new battle, let us keep always present with us some of the ideals of the Party: The fact that the Democratic Party by tradition and by the continuing logic of history, past and present, is the bearer of liberalism and of progress and at the same time of safety to our institutions. And if this appeal fails, remember well, my friends, that a resentment against the failure of Republican leadership--and note well that in this campaign I shall not use the word "Republican Party," but I shall use, day in and day out, the words, "Republican leadership"--the failure of Republican leaders to solve our troubles may degenerate into unreasoning radicalism.

http://newdeal.feri.org/speeches/1932b.htm

The leaders in the Republican Party who speak of the "Democrat Party" are simply pandering to the many ignorant and ill informed in their own party.

[freshwest]

79. You're not telling me anything I don't know. Read my post. n/t

[coalition_unwilling]

31. Brilliant. I would only add closing shot #4. Look into the camera with a beautiful

black Lab on one side and golden Lab on the other and say, "Please vote Democratic so dogs like this don't have to ride on top of the car ever agin." Then cut to Romney's interview where he intimated that Seamus, the family Irish Setter, enjoyed the 12-hour ride on the top of the car.

Overall, though, I like the cut of your jib.

[freshwest]

74. +1

[freshwest]

73. Very strong political ad plan. I hope they adopt it.

[DaveJ]

7. He's confusing "venture" capitalism with "vulture" capitalism

Or this is a clever plan for extracting what little their parents have left.

[6000eliot]

8. Or if you're strapped for cash, you could always sell some stock.

What a buffoon.

[polichick]

10. Or maybe sell a few pieces of fine art - who needs all those paintings anyway?

[renate]

9. so unless he went rogue and off script, his entire staff is this clueless too

It is *absolutely unacceptable* that someone who thinks that the average person has a safety net of parents with $20,000 to spare even has a shot at becoming President. I mean that literally. If he wants to be making decisions about social policy and is this TOTALLY CLUELESS about what real life is like for the little people, his campaign should be shut down by popular acclamation. If his idea of picking yourself up by your bootstraps involves a five-digit loan from a family member, this really is the financial equivalent of "let them eat cake." (Not to mention what this implies about his assumptions about older Americans and their finances.)

[chervilant]

45. + a gazillion million n/t

[Iliyah]

11. Looks like the

students were bored as hell. He must have been speaking to the weathly parents re their children. Its beyond me how clueless Mittens is and the GOP party, I guess they are praying on the voter suppression laws, the 5 justices, and the general public not voting in November.

I know one thing, females will come out in droves as well as minorities. The voter suppression laws did target college students, so if some are able to vote, it won't be for Mittens.

[beac]

12. I'll bet he's super proud of himself for remembering not to tell kids to

fund their college educations using the income from theor stock portfolios!

[TNLib]

13. Most people weren't born with silver spoons.

when I was starting out my parents were broke. Still are and my mom lives with me.

[rox63]

19. Same here - My parents were broke as well

Now elderly and broke.

[Stuart G]

14. This should secure the "under 20,000 dollars" in expedible capital..vote....that is...

85 percent of the vote....

[truthisfreedom]

15. $20K of your parents' retirement money, burned at a rate of 56% failed startups within 4 years.

He's suggesting that 56% of your parents' retirement money is worth gambling on an unknown venture.

Jesus is he behind. He's never heard of kickstarter. Somebody tell Obama.

[truthisfreedom]

16. Of course, with this added boost in likely-to-fail businesses, we can see these statistics take a

big leap.

[thesquanderer]

78. 56% failure rate doesn't mean that $20k is 56% of your parents' retirement $

If your parents have $100k in retirement savings, $20k is 20% of it, and there is then a 56% chance of them losing that 20%.

(Not defending Mitt, of course, just correcting the math.)

[aint_no_life_nowhere]

18. Easy - just be born into a rich family

What's so hard about that, morons?

[Lydia Leftcoast]

21. Wow, this reminds me of the time I was a grad student at an Ivy League university

(on financial aid and teaching assistantships, by the way). I needed money to spend a year in Japan doing research, so I was applying for various fellowship opportunities. I was in a couple of extra curricular activities that attracted both grads and undergrads, so I mentioned that I was concerned about possibly not getting the funding to spend a year in Japan.

One of the undergrads (from a wealthy family, of course) asked, "Who cares if you get a fellowship? Just go!"

"I can't afford to finance a year in Japan on my own. I can't even afford the airfare to go over and get an English teaching job."

The undergrad looked as if he was thinking, "Hmm, maybe she's not allowed to dip into her trust fund yet," so he suggested,"Then ask your parents for the money."

"They don't have that kind of money either."

The undergraduate looked stunned, as if he'd never realized that not everyone could afford to finance a non-working year in Japan on their own.

[sarcasmo]

23. Out of touch Romney. President Obama should start off every speech with

Mitt Romney is so out of touch, yesterday he said you should borrow 20 grand from your parents just like his buddy Jimmy John .

[lovuian]

24. What kind of business do you

start with 20,000 dollars ??? and I know of RICH parents who won't loan their kids a dime
Most of them are REPUBLICANS

[DesertRat]

25. UNBELIEVABLE

[DCBob]

26. Huh??

I dont think this is viable solution for about 99% of students.

[liberal N proud]

27. That's sort of how he did it.

When you are born with a silver spoon, you can get money from mommy and daddy.

[onehandle]

28. Fuck you, Richie Rich! My mom, a widower, didn't have shit.

Fucking out of touch asshole. You will NEVER be President.

[unkachuck]

29. "...borrow money if you have to from your parents..."

....slick willard, you rich wall-street Mormon, you're truly brilliant except for one thing....what if my parents don't have any money?

....or maybe, they have money but won't loan me any....or maybe, they have money but I can't afford the terms....can I get a low interest loan from you?

....we need to support our young people exiting college by forgiving their loan debt and help them create a new future economy for the middle-class....it's only in primitive countries like ours, countries that won't publicly educated their next generation (because only the rich should be educated), we see trauma like this....

....slick willard, you rich wall-street Mormon, pay your fair share of taxes and we will eliminate many of the financial problems of our young people....

[jwirr]

32. That is one of the most out of touch statements he has made so far. The middle class is disappearing

and he wants them to finance their childrens education. Those students are going to be lucky if mom and dad don't end up moving in with them any day now.

[fujiyama]

33. Because most parents just have 20 grand lying around the house

I think Romney may be one of the most clueless and out of touch candidates that has ever run for president. It reminds me of George HW Bush and his blunder with the scanner at a checkout back in '92. Romney strikes me as someone that has never been outside of his bubble.

And his wife Anne, has a Babs quality as well..."we had to sell stocks during grad school"? Seriously, it'd be better if they didn't even try. They sound more stupid every time they open their mouths. If I were an adviser I'd tell him to simply run on having "business experience". The reality of which, is one of him going through and raiding companies, closing them down, and destroying their employees' retirement funds and livelihoods. All the while "consulting" for them and walking away with a hefty profit.

It's clear that Mitt Romney (and his wife for that matter) simply has no idea as to the challenges and struggles ordinary Americans go through. Neither has ever had to worry about missing a payment for rent, paying COBRA premiums when being unemployed, paying for the kid's field trip or even a lunch, or about how to pay for college (that too at the most expensive institutions in the country).

[sky imager]

34. This clown is so far out of touch he's not even in this solar system....

[AllyCat]

35. So is that why I am still paying back loans to banks Mitt?

I should have borrowed money from my single parent mother and retired father? You are a schmuck sir.

[Prometheus Bound]

36. And this is why President Obama is always caught smiling.

http://www.google.ca/search?tbm=isch&hl=en&source=hp&biw=1649&bih=1008&q=obama+smiling&gbv=2&oq=obama+smiling&aq=f&aqi=g4g-m3&aql=&gs_nf=1&gs_l=img.12..0l4j0i5l3.1482.4069.0.6719.13.13.0.2.2.0.100.817.10j1.11.0.RpFw9enbmTs

[yurbud]

37. ''or ask your trust fund manager for an advance if you have to''

[LeftishBrit]

38. And what if your parents don't have any money?

[DesertDiamond]

41. "Let them eat cake!"

[Chipper Chat]

42. I wish Mitt had told his buddy to make better sandwiches.

A Jimmmy Johns opened in town a few months ago. I ordered a "tasty turkey" for $4.95. What I got was a huge bun, a cupful of sprouts, some lettuce, and a itty-bitty piece of Sara Lee turkey (one bite).
It was back to Subway for me.........

[AllyCat]

76. This place is Repuke? One opened in our town this month.

I was not impressed. Little regional sub shop in town is WAY better. Had no idea about JJ.

[CRK7376]

81. I never liked Jimmie John

sandwichs. My son does, wonder if he likes them now that he is a high school senior and starting to figure out how we will pay for his college costs, his older brother graduates from college next weekend, but his sister is just getting ready to start high school next year. No money for her education either...Sucks to be broke I guess....Jimmie john sandwichs suck, go to Firehouse Subs, much better and awesome hot sauce selections!!!

[ScottLand]

43. No time to discuss this now....calling my dad....

[tclambert]

44. This guy is the best candidate ever!

From a comedic, clueless, Marie Antoinette point of view.

Now the whole campaign will be about the 1% versus the 99%. I love it. I . . . love . . . it.

[rrHeretic]

46. I'm insulted.

More so my intelligence is insulted. To think they have this f-ing, out of touch, moron running for President just
boggles my mind! Yeah, borrow from your parents who, more than likely, have exhausted all of their savings already
trying to survive during our second economic depression. And the beat goes on..

[valerief]

47. The laid off parent or the one in prison for stealing a loaf of bread for the family? nt

[LibDemAlways]

49. Romney has been busy supplying the Obama campaign with

choice soundbites for their commercials. I'm sure they are very grateful. Makes their job easier.

[CAG]

50. You gotta love it when a trust fund baby tells

college kids to borrow money from mom and dad. Why does anyone ever listen to trust fund babies about anything???

[tooeyeten]

51. He lives in an alternate universe n/t

[Still Blue in PDX]

52. Absolutely amazing. Bush's advisors made him at least try to play the good ol' boy

that you'd like to have a beer with.

Good luck for us that the repug candidate is so transparent. People won't really vote for this guy, will they? He should be transparent to even the dimmest of voters, one would think.

I thought those rightwingers didn't like elitism.

[Riley18]

53. I paid for my own wedding. Now I support my mom.

I would not eat at Jimmy John's because the commercials are very anti-workers. They either make fun of cops or firemen while extolling their workers. Their workers are portrayed as loving their low wage jobs and loving riding a bike for their deliveries.

[LynneSin]

54. Sure aren't we all trust fund babies

[goclark]

55. Keep putting your foot in your mouth idiot

Look at the students behind him ~ bored

[jwirr]

56. Just another way of phrasing Santorums idea. Children of poverty do not need to go to college.

[wordpix]

84. friend and I were just discussing this and it looks like a R plot

Only rich kids can afford college and let the poor remain poor, ignorant and easily manipulated. Give them easy-to-understand sound bytes that they can easily memorize and repeat.

Sounds like the Rs to me have a winner

[jwirr]

85. They have carried out this progrom in other countries. It should not surprise us that now that they

make their money in a world economy that they think it is a good plan for America. For the rest of us education is going to have to become a local issue if we want our children educated and that will not include some way to educate them beyond high school - internships?

[truthisfreedom]

57. Dear Rmoney, The last time my parents had $20k was just before bush drove the economy into the ditch

Just like you want to do again with the new Obama economy.

[MountainLaurel]

59. Pretty sure I just heard my mom laugh her ass off

From 1,000 miles away.

[Odin2005]

60. Out. Of. Touch.

[JoePhilly]

62. I think Mitt was born with a silver FOOT in his mouth.

[Cali_Democrat]

63. That crowd looks VERY enthusiastic for Rmoney

hahahaha

[FarCenter]

64. If you can afford $160K for a liberal arts degree from Otterbein, you can afford another $20K.

to start a business.

In fact, if you are a freshman, drop out, take the $120K you save, and start a business.

[Rosa Luxemburg]

67. Why don't you lend them some money, Mr. Romney?

[wordpix]

70. Tax Haven Mitt isn't even paying all his taxes, much less giving college $ away

[Swede Atlanta]

68. I am thankful we live in the digital age because....

each one of these gaffes will be fodder against him in the general election.

First of all...I was lucky that my parents saved for my college education and they put me through school provided I maintained good grades (graduated with a 3.998), worked each summer for spending money and conducted myself respectably. They were products of the Great Depression and for them to see both their children graduate from college was experienced as personal accomplishments. That's great.

I put myself through law school, working full-time and going to law school part-time. Even so, and with some employer contributions, I incurred student loan debt. I am no paying 1.65% on that debt.

Secondly, while any assistance parents can give to their children toward college is admirable, we as society have the most to gain from having an educated workforce.

I have no problem ensuring students have "skin in the game" and that an education is not a "gift" but we need to be encouraging and facilitating students getting an education. Competition in the global economy demands a highly educated, highly skilled workforce. I am not saying this is about an academic 4-year institution. I am saying "education". This includes 2-year programs, technical schools, apprenticeships, etc. We should be finding diverse ways to educate our young people to succeed in this global economy. Saddling them with unmanageable student debt is not the answer.

[lastlib]

71. So, Mitt, what are we supposed to do if we don't have parents? Or a trust fund, like SOME PEOPLE???

eom

[CRK7376]

80. We wish we could help our kids with

college, but money for college savings was not something we could afford raising our family. Our kids will have to rely on loans, scholaships and FAFSA....it sucks, but that how our kids will get through college. Romeny, go piss up a rope...

[Marthe48]

83. Hey Mitt--spell f*** as in money

There is no f*** in money

Yep...what we've been trying to tell you, idiot

[lonestarnot]

86. Good gawd.

[SOS]

87. Economics refresher for Mitt

Median household net worth: $96,000
Average cost of four years at a public university: $85,788

"Hey Dad, can I have all your money to get a BA at State U?"

http://money.cnn.com/2011/03/24/pf/financial_crisis_outcome/index.htm

http://money.cnn.com/2011/10/26/pf/college/college_tuition_cost/index.htm