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.
The 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 least it’s more than Romney’s surrogates had to offer young people on their youth policy conference call this week.