If you borrow money, and sign a contract promising to pay it back, then you must pay it back, or you will suffer serious long-term financial consequences. Or at least, that’s the way it used to work, or is supposed to work.

Quote on student debt forgiveness: “The biggest beneficiaries would be white Americans under the age of 40 who have graduate degrees and live in high-income, majority-white neighborhoods — in other words, extremely online Democrats.”

President Biden is on the verge of rewriting a longstanding social contract by deciding that taxpayers should repay significant portions of student loans.