If you‚Äôre young and you want to start your own business, Mitt Romney‚Äôs has some advice from you: Borrow money from your parents. At a ‚Äúlecture‚ÄĚ 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‚Äôve seen in our country‚Äôs history. We‚Äôve 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.
The advice fits right into the characterization that Romney is ‚Äėout of touch‚Äô with regular people. Most students don‚Äôt have parents with $20,000 in disposable capital sitting around to give to their kids to start a business.
At least it‚Äôs more than Romney‚Äôs surrogates had to offer young people on their youth policy conference call this week.