No, you are. The only reason our chronic and enormous deficits have not already impoverished America is that the dollar has been the reserve currency for the rest of the world. That is slowly changing, as the dollar falls in value. And when it does change, we will have no one to balme but ourselves and our profligacy and improvidence.
When will inflation start rolling? We can withstand a weak dollar for so long then somethings got to give.