Commentary
“If you buy a car,” White House press secretary Karine Jean-Pierre explained the other day, “you are expected to pay the monthly payment. … It’s that simple.”
Is it? Now, obviously, those who argue that the president can cancel millions of student loans by decree aren’t in a position to offer lessons on personal responsibility. The deeper problem with Jean-Pierre’s analogy, though, is that there isn’t a bank on Earth that’s going to keep lines of credit open when a person is compounding unsustainable debt year after year.
Speaking of which, the federal government has already hit the debt limit. The Treasury Department is now relying on “extraordinary measures” that will sputter out by June, at which time we will all be forced to forage for food and barter for medicine. The only thing that can save us from this dystopian hellscape, Jean-Pierre explains, is for Congress to do its “job” and return to regular order….