“The problem with socialism is that you eventually run out of other people’s money.” This famous line by former British Prime Minister Margaret Thatcher reminds us that while government handouts may sound good, someone still has to foot the bill. Despite inflation remaining at a 40-year high, last week, President Biden announced his plan to unilaterally “cancel” hundreds of billions of dollars in federal student loan debt. This gimmick is little more than an attempt by Biden to boost his abysmal and well-deserved approval rating and will likely worsen our nation’s dire economic condition. What’s more, this debt will not…