When Democratic Senator Joe Manchin announced that he would not support the Build Back Better Act -- effectively dooming US President Joe Biden's signature legislative initiative -- he cited America's "staggering debt".
His concerns echoed those of the president's Republican opponents, who insist that all that spending would expand the deficit and leave future generations groaning under the weight of a heavy tax burden.
But would it? Proponents of Modern Monetary Theory (MMT) would beg to differ.
