Unfortunately, that has not happened. All of their printing presses have been running at capacity. They cannot just print more $100 bills, since they would lack the 20's to make change. As other Freepers have posted. What they have done is create more electronic debt. Not more physical paper debt. They are in the process of inflating a giant electronic debt bubble. When that bursts, electronic debt and electronic cash will be worthless. Similar to an EMP device going off over the US. Only this EMP terrorist device is Made in DC.
Paper money has no special significance. There is no difference between paper money and what you are calling ‘electronic debt’, no more difference than there is between paper money and the dollar balances credited to your bank account.
Paper money has always been just a small fraction of the dollars in circulation. The vast majority has always been in the form of accounting entries on bank ledgers.
Under the gold standard there was a distinction made between ‘money’ (also known as ‘specie’) and ‘credit money’ (aka ‘bank money’); but paper currency could represent either, depending on whether the paper currency was a gold note, a US Note, or some other note issue.