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If the U.S. issues a bond, and subsequently devalues its currency, then it will cost less for the U.S. to pay it off. I cannot make it any more simple than that.

I think I know where you are coming from. In the past we have managed to inflate our way out of national and personal debt, and that inflation did have a corresponding dollar depreciation. The difference is that we no longer have a strong manufacturing base, nor a solid technological advantage. The days when we had standby capacity and could add a shift or two to buy market share based on currency advantage are largely gone.

Our economy is no longer strong enough to benefit from the depreciating currency. Our currency has already devalued by 20-30% against the EURO and other leading currencies, but we have not seen any job growth, nor certainly much wage inflation. The only inflation that the system has generated is the cost push inflation that is directly driven by the weakening dollar.

There are no US based TV or stereo manufacturers; few consumer product makers, our garment industries are in taters, and even our heavy industries are largely dependent on imported components. Ford can only produce as many Explorers as they can get engines for from Japan and transmissions for from Germany; And, no one is going to re-engineer the car, or build an entire engine plant, until they have a reasonable expectation that the currency valuation has stabilized.

This is no longer a robust economy. Currency devaluation without other intervention to ensure that we have a broader manufacturing base, is just a recipe for disaster.