> If your debt is denominated in dollars how does depreciation in the dollar make it harder to pay back?
It doesn't, it just leaves the general public holding sacks of worthless paper money or pointless numbers in a bank's database when they want actual stuff, like food.
Inflation as long been used as a stealthy way to tax the public, they see their quality of life going to crap as each new generation comes along, but nobody wants to admit the problem lies with government spending The US had the advantage of pushing a lot of the inflation tax onto the rest of the world, but that's going away as so many other countries want to get free of the dollar.
If tomorrow the government hands out a trillion dollars to everyone, we won't all suddenly have a lot more stuff. We'll have a lot more paper and all the resources that were scarce yesterday will still be just as scarce. Probably even more so as there's a rush to consume more before prices can fully react to such a change.