On the same day the Republican/Tea Party-controlled U.S. House approved a bill to maintain low interest rates for Stafford student loans by slashing funds from President's Obama health care law, Mitt Romney had some advice for students who want to start a business: borrow money from your parents.
"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," Romney said today before a group of (utterly enthralled) students at Otterbein University in Ohio:
Romney told the story of his friend, Jimmy John Liautaud, who started Jimmy John’s Gourmet Sandwiches in 1983 by borrowing $20,000 (some sources cite $25,000) from his parents.
So Romney's solution is ask your billionaire parents for money because we all have those, right?
By the way, you now need $80,000 to open a Jimmy John’s Gourmet Sandwiches franchise.
Just for fun, go ask mom and dad if you can borrow that kind of money from them and let us know what they said.
Ed will have a lot to say about this tonight on The Ed Show at 8pET on MSNBC!
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Unbelievable...
This Heir To The World is so out of touch, He thinks EVERYBODY has as much money as he has...
And the Presibency should be his because "IT'S HIS TURN"...
Oh come on -- this is easy to explain. College isn't for everyone, it's only for those who can afford it, for those whose PARENTS can afford it (and any loans graduates may need after). College is not for those who need any financial assistance. Like having children is only for those who will never need financial assistance, like being a stay at home mother is only for those who don't need financial assistance, like health insurance is only for those who don't need financial assistance, like getting old is only for those who don't need financial assistance. See? I explained it like Mitt sees it.
The difficulty with college education is:
You can make $70,000/year with an associates degree in medical imaging technology (x-ray, ultrasound, and MRI). And unemployment is low.
crackhead-- damn good call.
I only wanted to add that even the "technical" degrees can cost serious cash - to someone trying to break-free from the 'lower classes'. While $10,000-$20,000 isn't squat compared to a Bachelors degree, it's still VERY serious money to a poor person. Pell grants do help, here. Not sure about the Stratford. Got a friend that will have her RN school done and be eligible for the Boards this summer. Got by UNDER 20 Grand. Her poor husband worked long and hard to help her (as close to 24/7 truck driving as the law allows). But they are still 'loaned up' as they have 3 kids.
RN's make serious dough....
Annie.... LOL
I love good sarcasm
Just one more example that this man is completely detached from the realities most Americans face.
What planet did he come from......is that where he pays taxes and keeps his money?
Funny you should ask about which planet Mitt Romney was born on.
This one is also pretty good.
I like this one too.
Oh, I had forgotten they think they are goint to live on that part of the universe and have eteranal sex.
Hope that the Mitt keeps making such comments to further prove that is he out of touch with most Americans. Guess he does not get that most of us were not born with a silver spoon. Wonder if Romney used his money to start Bain Capital? If his children borrow money from him, does he charge pay day loan rates?
From yesterday's poll...
Kathe/Tacoma
Romney to Bain: Bail Me Out and Lie About It
http://www.huffingtonpost.com/paul-abrams/romney-to-bain-bail-me-out_b_1454064.html?ref=business
Many people recognize Willard for the liar he is. The "small" business that Willard touts he "started" was Bain Capital financed by Bill Bain. Bill Bain said there was no risk to Romney. It's in the book "The Real Romney".
#17.2 - Thu Apr 26, 2012 8:18 PM EDT
When my children were going to college, I was making less than $30,000 a year. Sure, I could loan my children the paltry sum of $20,000 to start a business!!! No Problem!!!!
Romney is SUCH a CLUELESS twit!!!
How bad of a racist does one have to be to vote for this clueless nut job with a big old stick up his butt????
And anyone is surprised by anything this presumptive Repub candidate says - WHY?!
If you listen to him very carefully, his solution to EVERYTHING is the same old MO he used at Bain; when he was robbing (Wait, excuse me, using free market "creative destruction" techniques) generational Mom&Pop companies blind, loading them up with debt, stealing their pension-funds (Then there's that little thing of more often than not, leaving the gov't (you know, the one he wants to shrink) left holding the bag to clean up the mess they left behind)...and, you know the rest of the story.
You need money for college? Ask you parents.That's right, load up your parents with even more additional debt, let them mortgage the house, oh, and, please don't have any family members have medical conditions or emergencies.
And, to really make you are enthusiastic about higher learning and to build character, let's make sure you that even if you do borrow from your parents, Uncle Henry & Auntie Emma, there will be limited resources, if any, made available by that gosh-darned evil gov't that once my coronation takes place I plan to reduce to two, OK, maybe three agencies.
No matter the subject, no matter the question or issue, his answer is framed and packaged the same -- he's gonna use OPM (other people's money) In this case - OURS (WE, the American People), gut it, destroy it, sucker We, the American People, to pay for all of it, then sail off into the sunset, pocketing his fee and then some; a place in history, lifetime healthcare and pension benefits, Secret Service protection forever, et al.
The folk at Enron and Bernie Madoff are barely minor league compared to this guy.
T-Mom
aw... you forgot the "eternal sex in outer space" part
(I loved that ... LOL !!)
Otherwise-- darn nice prose !
Romney doesn't know what he's talking about. He's insulting those of us who have to struggle.
He's pretty insulting to anyone with a "higher than room temperature" IQ as well.
I'm sorry...which Mitt Romney are we talking about?
Boehner...Ha ha...nobody likes a WHINER!
Mitt is living on another planet. He thinks we all have parents who are millionaires. NOT all of us were born with silver spoons in our mouths.
Would someone please chart the accounting here for me? These are "loans" we're talking about. Where's the huge liability in keeping the interest rates low? Especially when the short-term rate from the Fed is still extremely low, banks have the use of our savings for virtually no return to us, and credit card companies continue to charge usurious rates if you carry a balance due. And only a year's extension!?
And I thought the Bush years were bad! The whole Republican Party needs a collective lobotomy.
NO !!! no no no no no.....
There's a pretty good chance that lobotomies will RAISE their IQ's
Oh come on -- this is easy to explain. College isn't for everyone, it's only for those who can afford it, for those whose PARENTS can afford it (and any loans graduates may need after). College is not for those who need any financial assistance. Like having children is only for those who will never need financial assistance, like being a stay at home mother is only for those who don't need financial assistance, like health insurance is only for those who don't need financial assistance, like getting old is only for those who don't need financial assistance. See? I explained it like Mitt sees it.
The whole republican party has taken a stance and ideology against every american except the 1%,big oil,and multinational corps if you don't fit into that sector how in the world could you vote for that party it would be a vote against yourself,family and friends yet their lemmings follow along with their direction.Flipper is bush on steroids he'd run this country into the Grand Canyon not a deep ditch.Seems every time repugs get control tax payers spend years bailing them out it's in our history.I've seen their ideas before they don't work and are not focused on the majority of our country,trickle down concept doesn't work yet they want to try it again on steroids.
This guy lives on another planet. He's been a spoiled brat since the day he was born.
Ed, I think the problem is our current society is self absorbed, we are flat out selfish. Unlike most of our grand parents, we don't save, we live on credit and from pay check to pay check. I am retired now, but my wife and I saved our money, or at least what we could.
On a Middle Class Income averaging about 70K a year between us for 35 years we bought our home, invested in our retirement plans and bought stock. We never bought new cars and only recently got a flat screen TV. I think we were prudent with what we had and as such were in a financial position to help our son. Many people we know always had more and better stuff than we did, but they never saved aby thing. My best friend has a beautiful house near the beach. He has remodled it twice and now owes over 600K on it, he and his wife both drive new cars and as a result he will have to work until he dies.
We got the loans for our sons college. When he went into the Army he applied for and receive tuition reimbursement that paid most of the loans off. Absent of the college debt, we gave him 40K. Our son now 27 years old owns a single family home in Victorville California and a condo in San Diego. He rents them both and after the mortgage, insurance, and property management fees he earns about $600.00 a month from the properties. He earns about 70K a year, has 40K in the bank and another 20K in a 401K. With exception to his mortgages and reoccurring monthly bills, he has no debt at all.
My point is you don't have to have a million dollars in the bank to help your kids with college or to get started in business. While my wife and I would love for our son to move home, I am afraid that will not happen, we have to settle for visits on the weekends.
And what year was this?
Guess most people today are already working as best they can if they can find any employment and don't have hardly any money to help themselves let alone anyone else. This is just another example of mitt's marie antoinette style comments.
Students don't go into debt have your parent go into debt for you.
seriously what those about those many people whose parents have no money to loan them and are already working the best they can......guess what that's a lot of people
Cynical, My son graduated HS in 2002 and from college in 2007, not long ago at all. Now I would ask you how many of these people that are having such a hard time are driving cars less than a few years old? GM boosted of a 21% increase in new cars sales from 2009 to 2010. Do you think only the wealthy purchased those new cars? As for the Unemployed, thank the Obama Administration. People are spending money and in my opinion they are spending much more than they have. Credit is far too easy to get. I know people that spend 350.00 a month for Cable TV, Internet Access and Cell Phones, another 650.00 a month for a car payment and then collect nearly $300.00 a month in Food Stamps. You may believe they are having a hard time, I think they are simply foolish.
You'd like to believe that everyone has the money to get through school and that we need not challenge the status quo on this issue. Fact is college is too expensive and there really isn't any serious reasons why. You know quite well that college students aren't the largest group buying new automobiles which as you would have it none of the average people would buy them which makes the company less profitable so they have to lay off workers adding to the factor that are stunted the growth of this economy.
Just because the people you know are stupid doesn't mean the rest of the nation is. More important if these aforementioned idiots don't have kids in college then this anecdote is irrelavent, it does not concern them
And on older model vehicles you'd be wise to trade it in a get a newly developed car because the differece in gas mileage has likely advanced significantly more so you'd be saving money in that situation which is not unheard of. Cash for clunkers, people don't want to keep their old crummy cars with gas so high.
If you've got an old pathetic clunker and half a brain then go out and get a more effecient vehicle asap if you can afford it. You're helping yourself, the environment, and this economy by doing so
I'll thank obama right after I thank bush for screwing the economy since the recession job losses were a result of failed bush era deregulation policies. The obama administration is not responsible for creating this in any sense of the word but they haven't gotten rid of it.
Food stamps I have never heard of any college students on food stamps, this is not a case of anything being handed out...sad I know since you think everything has to play out in that manner
Through using my head and thinking through how I could put my three kids through college 10 years ago I was able to help them as they helped themselves by working during the summer and during the school year and all three graduated and have graduate degrees without any tuition debt...it can be done.....smart people recognize that there are alot of companies that pay for graduate degrees....that means you work during the day and go to school at night and study on weekends...yes, it's spelled WORK not sitting on your ass expecting a handout......I can from a background of legal immigrants who raised there family on a potatoe farm, my parents sacrificed for my education the same way we sacrificed for our kids (Ed, you could eat a few less potatoes and you might use the money to help feed a college student - you might look better too). My graduate degree was obtained through my employer and I got it while I had three kids and was building an addition on my home by myself because I didn't want to borrow and get into debt...yes we sacrificed but it was worth it...I went from delivering newspapers door to door to a comfortable income because I refused to accept any handouts even though I was eligible for them. When I see these people in the grocery stores buying the most fattening foods with their food stamps and then go to the parking lot and see them get into the largest gas guzzling SUVs I am quite disturbed that this is what Obama is promoting...you see diabetes written all over their bodies and then don't care what it's going to cost as long as they get their freebies. You don't have to go to the biggest and best colleges and universities, especially for the first two years...get your associate degree and then work for a company that will pay for the rest of your education. Romney is right about this one.
"When I see these people in the grocery stores buying the most fattening foods with their food stamps and then go to the parking lot and see them get into the largest gas guzzling SUVs I am quite disturbed that this is what Obama is promoting...you see diabetes written all over their bodies and then don't care what it's going to cost as long as they get their freebies"
Sigh, another person parroting right wing rhetoric. Why don't you look up the eligibility requirements for SNAP in your state? Find out for YOURSELF what they are instead of believing everything you hear on FOX!
I am so glad you were able to find a job to pay your way through college. Would you have been able to do it today? Have you even looked up what tuitions are today?
"then work for a company that will pay for the rest of your education."
Don't you think ALL of us would like to do that? Why don't you supply a list of companies that are now hiring and are willing to pay for graduate school? And for once, try to be HONEST???
Yes I know what tuition is today since my last kid finished 5 years ago and yes it can be done today as I know several responsible people who are doing it.....just because there are requirements for food stamps doesn't mean those requirements are followed....there is a billion dollars in fraud in that program which is understandable when you see who is working for these agencies.
As of November of 2011 the following companies offered tuition aid to their employees... Apple, Chevron, Dell, FedEx, GAP, General Mills, Publix, Monsanto, Starbucks, UPS and Verizon.
rufus,
I looked up hose companies and you are right - their web pages say they all do offer tuition assistance in one form or another. so according to them, if you happen to live in a town where they are and you are interested in a degree they want, and you can get a job with them, and you meet their strict requirements, they will help you. I still would like to talk to employees of those companies first though!
I wonder what strings are attached. The place I work "claims" to offer tuition assistance if you attend an approved college (no online degrees - thank you) but then we travel just about every other week so nobody can take advantage of the "tuition assistance"! Looks nice on recruiting posters though!
I see the reagan's wellfare queens idea has been resurrected.
Our failed education system is running us into the ground, it is a shame some think the status quo is actually acceptable in the first place. If people in this country continue to have to give an arm, leg, and immortal soul to afford the higher education which is vital to our future then this nation will die
You think the europeans, indian, and chinese were kicking our back sides now just wait in a decade and see
also of all those listed companies how many are creating jobs primarily over seas as opposed to hear.....if their were plenty of jobs there would be high unemployment. Always love the blame obama if you don't have a job because you're so lazy concept.......still funny every time you that one. Yes blame yourself because it's your fault if you don't have a job which is why you should blame obama for not making jobs. So whose to blame here?
The Republican communist party is using the wrong animal as their mascot. The jackass is better suited for them and their way of thinking.
And thats a man that thinks he can be president? He isnt having any idea how hard the most ppl must work just to keep there heads above the water and to keep there homes.To pay for there kids college isnt for so many not even an option.They hardly can pay for there daily food.So lending money from parents after college is imposseble bc they dont have college degree at al. .
Mit, why don't pick up all the tabs on student loans to make yourself understand who hard it to live under your republican communist party. Mom and dad have enough to worry about keeping food on the table roof over their heads, and outragest utility bills to pay for.You gat the money, you brag about, be a sport. pay off the student loans of america!
It took me years to come up with something to actually go to college... I now have my Bachelors ONLY because of student loans... Let me see, maybe, just maybe if he takes that money for his elevators for his cars and he can pay my student loan off... LOLOLOL... (being sarcastic)
God has given him the ability to live the life he has and I am not offending him when it comes to his money... but, this man truly has not clue how the rest of the world lives... Remember he is that top 1% that clearly feels that a $10,000 bet is something we all can do... I just don't get it!!