Skip to main content

LOL! College Run By Bernie Sanders’ Wife Goes BANKRUPT

You can’t make this stuff up.

We all like to talk about the fiscal irresponsibility of Bernie Sanders in politics, but the man practices what he preaches in the real world. And by that I mean he brings in over $200,000 a year – and has over $60,000 in credit card debt.

In other words, Bernie’s income puts him in the top 5% of households, yet he has more debt than what the average household earns in a year. He can’t balance a checkbook – let alone a national budget.

His wife is no better. A lesser known fact is that she served as President of Burlington College, a small private liberal arts college in Vermont from 2004-2011. Under her watch the college took on massive amounts of debt, and we just found out Monday that the college will be closing.

Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese, which put the land up for sale to help cover the costs of a $17 million sexual-abuse settlement.

As Heat Street reported last month, the college almost immediately fell short on its financial obligations as fundraising pledges and commitments Ms. Sanders cited in the loan agreements never materialized.

Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package.

A Burlington College news release issued this morning called these financial hurdles “insurmountable at this time.”

“We anticipate notice from [the regional accreditation agency] that we have not met the Commission’s financial standard,” the news release said, “and, therefore, our accreditation will be lifted as of January 2017, and the College will not be able to award academic credit after this time.”

Other Vermont colleges and universities will absorb current students, as well as those Burlington College had accepted for fall 2016.

Burlington College couldn’t recover from the crushing debt a member of Sanders family put on them – but that’s nothing compared to what Bernie’s presidency would cost us. According to one estimate, Bernie’s healthcare plan alone would add over $21 trillion to the national debt over ten years

That’s a larger figure than the current national debt. And that’s just from one of the Santa Claus candidate’s promises.

H/T Heat Street

If you’re as shocked by this story as I am, you’re not shocked at all. Share this with all your liberal friends! 

Check out The Political Insider’s 2016 Election Center to stay on top of the latest breaking Trump news!