Romney Suggests Young Adults Get Loans ... From Their Parents

WESTERVILLE, Ohio -- Republican presidential candidate Mitt Romney offered a group of college students this advice on Friday: If you want to start a business, borrow money from your parents.

Romney, a wealthy former
investment banker who has struggled to soften his image as a member of
America’s super elite, was discussing ways of achieving the American
dream at Otterbein University. He said, “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 presumptive GOP nominee
focused his remarks to students in this important swing state on trying
to show a more personal side. He talked at length about his work at Bain
Capital on investment projects that fostered the creation of the
Staples office-supply chain and other businesses. He also mentioned
political supporter Jimmy John Liautaud, founder of the pizza business
that bears his name, as an example of the American dream.

“He graduated from high school
and he didn’t want to go to college,” Romney said. “And he said to his
dad, ‘Can I borrow some money? I want to start a business.’ His dad
said, ‘You know what? I just don’t think you’ve got the discipline to
start a business and make it work.’ And he said, ‘I’ll loan you the
money, but if you can’t pay it back, with interest, by the end of the
year, I want you to go into the military, and sign up.’ And he said,
‘OK, I’ll do that.’”

Today, Romney said, “He’s got shops all over the country and thousands of people that work with him.”