text:  Modern monetary theorists, the folks who look at the models as opposed to looking at reality, or is there something else at work here? I think what's going on here is they're committing the broken window fallacy. So I'm looking at the letter now, and they say that President Joe Biden signed into law major investments in the U.S., including infrastructure, domestic manufacturing, and climate. And they say that these investments are likely to increase productivity and economic growth.