While running for the Democrat nomination, Bernie Sanders stood out as the “Santa Claus” candidate, promising free college, free healthcare, free childcare, government funded maternity leave, and a whole host of other social programs. An analysis from the Wall Street Journal showed just how affordable that would be, with Bernie’s proposed policies adding $18 trillion to the deficit over 10 years above the deficits already projected.
We all know the road to hell is paved with good intentions, and given that we’re already headed towards bankruptcy as a nation, Bernie would’ve kicked the ride into overdrive.
Surprisingly, had he won the election, he wouldn’t be the first president in his family to bankrupt an institution.
From 2004-2011 (when she was ousted), Bernie’s wife Jane O’Meara Sanders held the position of president at Burlington College – which became a point of interest after that college closed in May 2016 (while Bernie was still in the race) due to “crushing debt,” incurred over Mrs. Sanders’ tenure. She accumulated a $10 million debt, most of which was attributable to the school purchasing a new campus in 2010.
Mismanaging a college is hardly illegal, but it’s doubtful whether or not Jane actually believed the school would be able to pay back the money borrowed, and because of that, as The Hill reported, Federal investigators are looking into allegations that Jane Sanders falsified loan documents while she served as the president of Burlington College, according to multiple reports.Sanders has been accused of falsifying the information on the loan documents in order to expand the college grounds.
The VTdigger.org reported that some of the donors Sanders appealed to for help with loans are now in contact with the FBI and Federal Deposit Insurance Corporation (FDIC).Sanders left her leadership role in 2011 for undisclosed reasons.
She claimed the college could count on $2.6 million in donations to pay for the purchased land, according to a 2010 loan application. But she ultimately raised only a fourth of that, making $676,000 in donations over the next four years, putting the college into bankruptcy in May 2016.
The numbers that donors say they pledged compared to what Sanders documented differ, according to the report.
To her credit, it’s quite possible she didn’t knowingly do anything wrong – she could just be as godawful at budgeting as her husband.
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]