ONTD Political

Romney: Borrow Money From Your Parents

11:56 am - 04/30/2012
Mitt Romney is keeping his focus on the economy and encouraged young people to “take risks” to deal with a tough job market, even if it meant borrowing money from their parents, reports the New York Daily News. At a speech at Otterbein University in Ohio, Romney talked about how the owner of sandwich chain Jimmy John’s got started by borrowing $20,000 from his father.

“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.


Democratic activists quickly pounced on the remark as another example of how the presumptive Republican nominee is out of touch.

“Only someone who paid for college by selling stock given to him by his CEO father would just casually assume students could go borrow $20,000 from their parents to deal with the economic challenges they face,” a spokesman for the Center for American Progress Action Fund tells the Associated Press.

At a roundtable discussion with seven students, Romney noted engineering majors were in high demand and wondered whether students would have chosen their areas of study differently if they had been clearly told about job prospects.

“You really don’t want to take out $150,000 loan to go into English because you’re not going to be able to pay it back. You might want to think about something else that meets your interest,” Romney said, noting that “as an English major I can say this,” reports ABC News.
Romney graduated with an English degree from Brigham Young University and later went on to study law and business at Harvard.

Romney’s speech was part of an effort by his campaign to continue focusing on the economy even as President Obama tries to shift focus to other issues, including national security, points out Reuters.

Source

Because everyone's parents have money they can borrow? I seriously hate this smug rich asshole.
running_jumping 30th-Apr-2012 05:37 pm (UTC)
Thanks for reminding us you're from a rich family.

Also, I get pissy about anyone discouraging people from studying things like English (lit major here) and to go for the money-making majors. I really don't want to live in a country that's solely populated by engineers and business people.
juunanagou18 30th-Apr-2012 05:45 pm (UTC)
I hate that as well for not only the monopoly of science and engineering, but also factoring in happiness. I have known and met many engineering and pre-med majors who wish they could major in something else like theatre, or music (went to HS with a girl who is now pre-med, but she's always wanted to sing), or art history but wouldn't dare because they've always been told that anything other than science and engineering is worthless. So, they go into these majors because they feel they have to in order to make a living, but hate it at the same time.
running_jumping 30th-Apr-2012 05:52 pm (UTC)
I know what you mean about needing to make a living, and in full disclosure, I was recently laid off and am therefor a jobless lit major. Yet, I feel like if we valued the humanities more, there'd be more and better paid jobs in them.
kalikahuntress 30th-Apr-2012 06:11 pm (UTC)
Also, the competition entry into those majors is fierce, if it's anything like in Canada. Everyone is going for those jobs, so of course their won't be enough jobs for everyone.
We need to ensure that as a society we value more than just certain areas of study or we will always have unhappy people doing jobs they hate and people without jobs because they didn't make the cut. And we will always have people who can't get those jobs even if they are qualified if everyone goes for certain majors.
amyura 30th-Apr-2012 10:35 pm (UTC)
Having gone to school in both the US and Canada, I can tell you....it's nothing like Canada at just about every American university. You apply to the school, not the program, for most places, and declare your major/concentration a few years in. Some programs, such as just about anything in the arts and some competitive pre-professional and 3-2 bachelors-masters deals, are competitive and you do have to apply, but in general, if you want to major in engineering, you apply to schools that have that major, and then you just major in it.
keestone 30th-Apr-2012 06:18 pm (UTC)
Not to mention, I seem to remember something about a glut of people with law degrees and not enough jobs to go around because so many people went for the safe moneymaking degree that is always in demand . . .</p>

Of course, I'm a lowly scholar of literature. Clearly I understand nothing about supply and demand.

kaowolfie 30th-Apr-2012 06:36 pm (UTC)
The law schools don't understand supply and demand either. They do understand ridiculous levels of profit and lying about job prospects, though!
bestdaywelived 30th-Apr-2012 06:32 pm (UTC)
I also think that the idea that a person can/should be happy with their choice of career is somewhat strange, because for most Americans, they will just have a job, not a career. Like, my family has always had factory jobs. No one wants a factory job. No one likes a factory job - they are soul-sucking and demeaning.

You need to be privileged to go to college to do what you love rather than what makes money, IMO.
caseyfierce 30th-Apr-2012 09:10 pm (UTC)
I wouldn't necessarily say privileged, but it does present a higher degree of risk. Coming from privilege just means people are more likely to take that risk.
etherealtsuki 30th-Apr-2012 08:31 pm (UTC)
This happened to me to a degree. I love Psychology as a hobby and I don't regret learning because it gave me a different way into understanding people but it was not a passion at all. It's now a hobby but I was fucking miserable when it took 3 years to stop lying about that. I hated the tests and the constant papers.

I would mind minoring it. But oh my god, I wanted to major in art. My studio and computer art professors would get so disappointed when they find out that I wasn't an art major and it was a tough thing to swallow because I wanted to so fucking badly. But my mother's disapproval and the general attitude about majoring in art stopped me and I think it created quite a few emotional issues (and it was the start of my anixety attacks as well) over it. And now I have an artist's block seven years and counting.

That's why I tell everyone do what they meant to do because going against that can really do untold damage to you that you don't know.
flyingwild 30th-Apr-2012 11:23 pm (UTC)
Yeah. I've had my family on my case forever that I should go into math or science. When, well, I'm good at them, but...it's not what I like. What I like is English and art. I don't want to do something I'm going to hate every day of my life.
lady_grace 30th-Apr-2012 05:56 pm (UTC)
Yes, thank you. I'm starting my MFA in creative writing in the fall, and the next person who asks me if it's "practical" is going to get a punch in the balls.

Edited at 2012-04-30 05:56 pm (UTC)
running_jumping 30th-Apr-2012 05:57 pm (UTC)
Really? I've been thinking of applying for MFAs in creative writing for the past year now. Where are you going?
lady_grace 30th-Apr-2012 05:58 pm (UTC)
I'm attending UM-Kansas City. :)
running_jumping 30th-Apr-2012 06:02 pm (UTC)
I hear that's a great program...good luck!
caseyfierce 30th-Apr-2012 09:14 pm (UTC)
There's plenty of careers out there for people with those two valuable skills: creativity and writing. Some of the most intelligent people I know are really great creative writers. Have fun!
dagnirovanaliel 1st-May-2012 03:35 am (UTC)
Nice! I want to go for mine as well, but I have one more semester of undergrad and am so burned out on school I'll probably wait a year or so before applying.

Fuck "practical". It makes me happy, and people who can write are more valuable than "practical" majors think. Considering how many business majors I've met who can't write a paper to save their lives and then look down on me for being an English major...
wesaucereyes 30th-Apr-2012 06:11 pm (UTC)
This. I get grief from my extended family all the time for not getting my degree in something practical. For some reason they don't understand that I much rather spend my 12 hour days working as a production director for little money as oppose to a job I absolutely have no passion for.
molkat 30th-Apr-2012 06:39 pm (UTC)
And those money making majors aren't guaranteed to make you any money. They can be a huge risk considering how much debt you can accumulate if you need to go to grad school. Mitt can pat himself on the back for being so smart and clever for going to law school but the world law graduates face is very different from the one he did even if he didn't have daddy to help out.

I'm a pharmacist and it's the same in my field. People got into the field thinking it was a sure thing and it's not anymore. Tuition has gone way up and demand has gone way down. I got ridiculously lucky last year with my job and I do not envy the people graduating after me because it's just going to get harder.
hirra_chan 30th-Apr-2012 07:28 pm (UTC)
I'm not from the US, but your last part, YES, so much YES (Mexican History student here!)

Now that I'm in Uni, I've noticed how ignored are the Arts and Humanities (my generation has 15 students, and IT'S THE ONLY UNI IN MY STATE THAT OFFERS HISTORY. Philosophy has FIVE STUDENTS). In history at least, job opportunities in my city (flooded with factories and everyone wants to study engineering and graphic design) are actually good because while the demand is low (salaries range from okay to average), the students who graduate are even less.
yeats 30th-Apr-2012 09:46 pm (UTC)
yeah, fuck those people. i think that we definitely need to work to make science and math more appealing at a young age so that more people will want to be engineers and scientists, but the solution isn't forcing people to study things that they hate.
makemerun 30th-Apr-2012 11:46 pm (UTC)
Not only that, but I'm visually disabled, so my biochemistry dreams were shattered. I can't do anything in the lab anymore.

So all I want to do is teach English, which I am very, very good at. (LOL despite my comments on here, ha ha, I know I seem barely literate most of the time, but I swear I'm excellent at fiction). So I'm going for a BA with an English and Gender Studies focus. My plan is to stay in school until I have a doctorate, and teach college. I'll have a shitton of debt, but I've already planned things financially, based on projected loan rates, income-based repayment, etc., and I should be fine.

Surprisingly, people actually think this far ahead. I ~love how rich people just assume we stupid poor people are just short-sighted or something. Which short sighted people got us into the recession again? Oh yeah, people like Romney. That's right. I remember now.
tabaqui 1st-May-2012 04:41 am (UTC)
And if you think about it, if *everyone* goes for engineering, pretty soon any jobs in that field are locked down and then - where are all these hordes of students going to work?

We actually do *need* variety in our work force.
mercat 1st-May-2012 07:54 am (UTC)
Engineering* sadface :'( But I'll back you on business majors. We had a lot of scummy ones (for all the decent ones we were also lucky to have)


*granted, with a minor in art history and now doing graduate studies in architecture.
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