MOONBEAM ECONOMICS: Where’s the “EQUITY” when I pay my debts by sacrificing other amenities while others recklessly spend ? How may an economy effectively grow by encouraging this ?

No. The government willfully vacating contracts because they don’t like the terms people agreed to is ridiculous. Set up programs to maybe forgive student loan debt for those employed in their field of study for 5 years. That would be sensible. Undergrad degrees only.