Correct. The Dollar declines over time, the speed of money accelerates, productivity increases, while our standard of living (think: healthcare, home ownership, stock trading) over time increases. Economic growth is deflationary. The only way to offset that is for the government to introduce inefficiency into our economy (something the government does extremey well). In order to bring about inflation the government must go beyond the breakeven point, so there is no way that inflation can be said to introduce a higher standard of living. That can only come from productivity increases. There are only so many windows the government can break to stimulate our economy before it causes problems.
"Economic growth is deflationary."
Nonsense. Examine the hottest regions of economic growth, such as LA out in California. Notice that their real estate is not going down in price (the definition of deflation).
Check out home prices in Nevada, too. Again, where you have economic growth, you have the opposite of deflation.
You should track down and slap whoever told you the outright falsehood that "economic growth is deflationary."
Watch the price of office space when a local economy heats up. Anyone who claims that economic growth is deflationary is so far wrong that it has to be more than ignorance; it really has to border on outright disinformation from willing propagandists.