Inflation has NOT declined, only the rate of growth of inflation. Inflation is like compound interest, in which the accrued interest is added to the principal, and the rate is then applied to that increased amount. Still more than it was a few years earlier.
There is no going back unless the national currency is revaluated. say like a ration of 10 to 1, or 100 to one. There was a time, while I was stationed overseas in Germany, when the exchange rate was 500 French Francs to the US dollar, then the “new franc” was introduced, and the exchange was made to be 5 “new francs” to the dollar.
France immediately went back to regular devaluations of even the “new Franc”, until the “Euro”, a supernational coinage of the European Union, was introduced.
There needs to be a factual discussion about the debt, without any propaganda by democrats or republicans.