>>This is what I was pointing out as my disagreement. Right now the US is purposely devaluing our currency. The resulting inflation may be good for the US debt load but any gain to the country's financial situation is offset by the real costs inflicted on the citizenry through increased costs of goods & services on a day-to-day basis.

That's only true if pay doesn't keep up with the CPI. Is that your expectation, because this has caused rioting by the desperate poor when it occurred elsewhere. In any case, inflation also makes your exports cheaper (or more valuable in US$) and incentivizes local production rather than imports. And it stimulates consumption because people whose mortgages effectively are halved will feel as prosperous as the previous generation whose wealth was multiplied by inflation's steady march. Previous good times certainly were accompanied by property inflation: see here http://www.census.gov/const/uspricemon.pdf to calculate that previous generations could sell their homes for ten times the purchase price having enjoyed originally huge mortgages reducing to less than the new owners would spend to repaint the place. People buying their first new home in the 2000s might reasonably expect the same.