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.
That's helped push to the forefront the conversation about MMT, which contends that the U.S. government cannot go bankrupt because it prints and borrows in its own currency and is not constrained by the budget deficit. The Treasury Department estimated recently that the current budget deficit would reach $1.1 trillion by the end of fiscal year 2019.