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July 18, 2017

Jane and Bernie Sanders and the Lesson of Socialism

Democrats are notorious for blaming everyone and everything else for their wrongdoings. So no surprise here.

Why is it that whenever a politician (or his wife) gets caught doing something illegal, it’s never their fault? Democrats are notorious for blaming everyone and everything else for wrongdoings that surface at the most inconvenient times. Bernie and Jane Sanders find themselves in this very position.

In case you missed it, the latest federal investigation involves Jane Sanders, the wife of socialist Vermont senator and former presidential candidate Bernie Sanders. In 2010, Ms. Sanders participated in a land purchase deal with the intent of expanding Burlington College, of which she was acting president. The lakefront property had a price tag of $10 million.

To finalize the deal, Ms. Sanders secured a $6.5 million bank loan and informed the lender that $2.6 million would be paid back quickly once the cash started coming in from donors. She also secured $3.5 million in financing from the Catholic Diocese in Burlington and likewise told them that the loan would be paid off quickly once donations started coming in and enrollment increased.

The problem is that enrollment did not increase and there were not enough donations given to pay down any of the promised amount. Simply put, Ms. Sanders is being investigated for bank fraud. If found guilty, surely that will have leftists outraged — you know, since Bernie Sanders campaigned so heavily against bank fraud and bad investments.

Just kidding! Sanders’ devoted socialist disciples won’t blame him or his wife; they’ll blame the bank, the Catholics or anyone and everyone else.

The Sanders know this, so instead of admitting their bad decisions, Ms. Sanders cried foul, claiming that the vice chairman of the Vermont Republican Party, Brady Toensing, is going after her husband. She opined during an interview, “I find it incredibly sexist that basically he’s going after my husband by destroying my reputation, and that’s not okay.” The Boston Globe further explains, “She said Toensing’s campaign against her is sexist because it assumes her husband somehow interceded on her behalf to secure the loan to buy the new campus — an accusation she insists has no merit.”

Of course this investigation is not sexist. In fact, in cases of bank fraud (or most any other crime), one’s gender is not a determining factor in the material facts of the case. The FBI is not investigating because she is a woman and happens to be the wife of a sitting U.S. senator, but because she obtained a large loan and didn’t make payments.

It doesn’t matter if there was a male or female president at Burlington College. What matters is if things were done correctly. If they weren’t, then there should be consequences. Jane Sanders’ decision to expand the college did not work the way she intended. She was president at the college from 2004 to 2011, but due to the “crushing weight of debt” incurred during her tenure the college closed its doors last year. The Catholic Diocese lost $2 million from the bad loan and the loan from the bank was never repaid.

Of course, “feel the Bern” Bernie is feeling the burn himself these days because of this investigation. As a good husband perhaps should do, he has publicly defended his wife. But that’s led to some whoppers. For instance, he claimed, “My wife is about the most honest person I know.” Moreover, he insisted, “When she came to the college, it was failing financially and academically. When she left it, it was in better shape than it had ever been.”

Ironically, Jane and Bernie may be experiencing the greatest problem with the socialist policies that they so adore. Under socialism, at some point the government runs out of other people’s money. In the case of Burlington College, Ms. Sanders ran out of other people’s money to pay back the loans she acquired.

Not that they’ll learn it, but this should be an economics lesson for the Sanders. And maybe the people who have and continue to support Sanders will see that the economic policies he advocates for America would have the same result as this bad college loan deal.

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