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The good old Bank of Mom and Dad

Poor Mitt Romney. He just keeps sticking his foot further and further into his mouth, repeatedly proving that he doesn't really have a clue about how average people live in this country.


His latest clumsy effort at "connecting" with his audience was at Otterbein University last week where he told students, “Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business,” 


In advising them to borrow from the Bank of Mom and Dad, he cited a friend of his who took out a $20,000 loan from his parents. Never mind that $20,000 wouldn't even see a student through most (if not all) public universities today, I guess if you don't have parents that are rich enough to front you the money, you would just be out of luck in Romneyworld. Students who are poor or middle class who have dreams of a college education need not apply.  


When did investing in educating our young become considered poor social policy and poor politics in this country? Today we risk losing a whole generation of young people who will not be able to pursue higher education because of the cost and because one of our dominant political parties insists that only those that are able to pay for it on their own should be allowed to go to college. They don't believe in upward mobility. In fact, considering the economic policies that they espouse, one is forced to conclude that their goal for the nation is downward mobility. 


Meantime, the United States continues to fall further behind in the rankings of students' performance, particularly in math and science. We who benefited from the foresightedness and the generous spirit of our parents' and grandparents' generations are failing our children and grandchildren. History will not look kindly upon that failure.
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