Interesting article here on Modern Monetary Theory (which quite frankly sounds like some old theories with new clothes).

On the specific point in the article that a government can't go bankrupt because it both prints and borrows its own money, I can't help thinking of Venezuela today and Wiemar Germany of the 1930s.

I suspect if this theory took off, America will end up going down the Venezuela route as clearly even oil-rich governments can end up as-good-as bankrupt.