What a load of garbage economics.

"The US Treasury borrows money by issuing bonds, which are just IOUs, to anyone who’s willing to lend in return for interest. Then, the funds are funnelled to various parts of the government."

Why would the monopoly issuer of US dollars ever borrow its own dollars?? In fact, considering that all past deficits are represented by Treasury bonds by law, where would the money come from to purchase debt if it "funded" deficit spending?? How does one lend what doesn't yet exist??

"In fact, most governments follow Modern Monetary Theory, an economic model which argues that debt is not a bad thing — it should be treated as an asset since the debtor can use the acquired cash to invest and grow. As long as the government can meet interest payments, it can keep borrowing more to pay off old loans and just hold on to debt indefinitely."

The monopoly issuer of the currency, sans any artificial restraint (gold standard), has no need to "borrow" to fund its money creation (deficit spending). The term "debt", in the case of such a monopoly (sovereign) currency issuer is a misnomer and shouldn't be conflated with debt in the same context as household debt. It is a tracking entry used to comply with standard spreadsheet accounting used worldwide to track money transfers.

Paying off the national debt, should we ever become so ignorant to attempt it again, would mean removing all net money from the economy and bankrupting all lending institutions via massive default. This would effectively end the US dollar as a unit of measure in our commerce and retroactively steal all the resources and labor provided to the government in our nation's history, leaving nothing to denominate that commerce. The last seven times we have foolishly just put a dent in the rate of growth of the debt have resulted in almost immediate recessions or depressions, but you be you.