Jane Sanders, Vermont Sen. Bernie Sanders’ wife, ran Burlington College from 2004-2011. As president, she retrospectively took a financially idiotic task of expanding the college, taking on $10 million in debt to purchase a plot of land from the local Roman Catholic diocese. The plan to repay the debt was to increase enrollment and beef up fundraising, with both ventures ending in failure. In 2011, Sanders was shown the door (and given a $200,000 severance package). By 2015, the school was $11.4 million in debt, with $300,000 in unpaid bills. Most of the land acquired by Sanders was sold off, as the school was in an untenable financial situation. Now, the school that Sanders ran into ground is closing its doors at the end of the month (via Politico):
Sen. Bernie Sanders’ wife made a big-ticket purchase during her tenure as head of a small, private college in Vermont — and, in the end, the institution got burned.
Burlington College, which Jane Sanders ran from 2004 to 2011, will close its doors on May 27 due to financial and accrediting problems, it was announced Monday. The college has about 70 students.
Jane Sanders’ tenure as president of the tiny school in Burlington, Vt., saw it make a bold real estate purchase to replace its cramped quarters: Sanders spearheaded a deal to buy 33 acres along Lake Champlain, in hopes that the scenic property would help the college attract new students and donors. To pay for the prime lakefront land, the college used $10 million in bonds and loans, according to reports by the Burlington Free Press.
But the large expenditure didn’t pan out, Sanders resigned the following year, and her successors could not save the college from financial ruin.
Yes, the Sanders are quite the gruesome twosome. Jane utterly destroyed Burlington College. The school only had a little over 100 full-time students, with a total graduate and undergraduate enrollment of less than 500--and she was to accrue a $10 million debt?
Bernie plans to take the country down the same path of financial ruin, with his agenda leading to an explosion of government spending to cover his left wing goodie bag items. In all, the self-described, disheveled Democratic socialist plans on increasing spending by $33 trillion over the next ten years, while adding $21 trillion to the national debt over the same period. To boot, his $15.3 trillion in tax hikes won’t be enough to pay for his left wing, Candy Land vision for this country. And Democrats want these two running the country? Lord help us.