How can Bernie Sanders address Puerto Rico’s debt crisis when his wife caused one when she was in charge?
Burlington College, a small Vermont private school once led by the wife of Democratic presidential candidate Bernie Sanders, said Monday it will close later this month, citing “the crushing weight” of debt incurred during her presidency.
The college, which enrolled 224 students as of fall 2014, said it faced financial troubles connected to its 2010 purchase of 32 acres of lakefront property from the Diocese of Burlington, according to the Burlington Free Press. The college said it had sold property to reduce its debt to a manageable level, but it was placed on probation in 2014 by its accrediting agency and it faced cash flow problems due to the imminent loss of a line of credit.
Jane Sanders was president of the college from 2004 to 2011. Her husband, Bernie Sanders (I-Vt.), a former mayor of Burlington, served in the U.S. House of Representatives from 1991 to 2007 and since then has represented Vermont in the U.S. Senate. He is now competing with Hillary Clinton for the Democratic presidential nomination.
In other words, Jane Sanders led Burlington College to act like Puerto Rico. Yet Sanders acts like he is the champion of Puerto Ricans:
What good will it do for Puerto Rico to have their debt “restructured”? The government has raised taxes and still is not able to pay for the services it provides to the people. They will want to continue to borrow money to get the benefits they think of as their right. Restructuring the debt means enabling Puerto Rico to borrow even more money based on the fiction that they will later be able to pay it off.
The debt needs to be repudiated and then the government needs to cease borrowing. There simply is no other path forward for Puerto Rico. Anyone who pretends otherwise is lying.