Sin Paid in Full

Continuing in my theme of answering questions which I come across on the internet, this is a great question.

What do the Protestants mean when they say Jesus already fully pay for their sins on the Cross?

Does this mean they have the license to deliberated sin (such as abortion) and then “repent” since they know God is most merciful and compassionate and understanding, and will forgive them as long as they quit their wrong doings?

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