>>What you are implying is dangerous macroeconomic gamble... Results we got so far from that, is global increase in commodity prices (food prices > normal => recent uprisings)
Realistically salaries need to increase along with the CPI. If inflation doubles your salary then it also effectively halves your debt. The main damage is destruction of the value of savings but the US doesn't need to worry too much about that.
I'm not proposing mega-inflation but another dose of the vigorous inflation seen in some economies earlier in our lifetimes. People who bought homes back then benefited hugely as inflation reduced a several-decade debt commitment to something you can put on a credit card today. Why is it fair to deny that sort of leg-up to current/next generations who are being saddled with our debt as well as their own?
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us."
-- Shakespeare: Coriolanus, Act 1, scene 1
