All governments that are in control of their monetary policy, and thereby have the ability to print essentially fiat money in order to increase business activity, or to handle a crisis or pandemic, or to lift up a country from the doldrums of a recession or depression, are prone to misusing their monetary power in a manner in which that country gets itself so indebted, that there is no real reasonable expectation that they will make good on those monies so borrowed. After all, anytime a government, is in charge of how much money or its equivalency that they can print, they are going to have a very strong tendency to print money, for instance, when they are in a crisis, in order to more easily extricate themselves from it, as opposed to doing the sort of things, that would necessitate "belt tightening," or meaningful systemic change, or anything that requires the general public to make a sacrifice on behalf of that state.
The United States of America has clearly taken the road of indebting itself at ever increasing rates, despite not having been involved in any type of World War since 1945 or economic depression since 1930, and despite the fact that with the exception of a pandemic, which it clearly was ill prepared for, and subsequently incompetently handled; has not been in the position of having a real compelling reason, why it has had to indebt itself at levels, previously unimagined, without at a minimum, making wholesale changes in the way that it conducts its fiscal policies. Clearly, the powers to be, believe that America, alone amongst all other nations, is the exception to every rule, but it is not; rather, American national indebtedness, is a serious issue which has serious repercussions not only for America but throughout the world, and will result in the eventual default of that American debt, and the recalibrating to some other currency alternative, in the future.
At this point, America has plainly taken the path of currency debasement in the hopes that through that debasement, that it will more readily be able to handle the payment of that national debt, through inflation, and therefore the cheaper true cost of that debt, that so ensues. While in some respects, inflation appears quite quiescent, and the government insists that this is true; quite obviously we see inflation in the price of our healthcare, our insurance, our home prices, gold, and most notably in the price of our stock market. This is the inevitable result of all those companies that have pricing power, utilizing such; as well as the fact that the excess of money so produced by that national debt is mainly in the hands of those that have no other place to store such "wealth" except in the equity markets, because they already own all the material items that they care to own.
As reported by in2013dollars.com, and updated in July of 2020, our currency has declined in value markedly over the last fifty years, so that "This means that a dollar today only buys 15.05% of what it could buy in 1970." Now, with America's national debt, at unheard of levels, and with no end in sight, it is clear that debt will soon reach that point of no return to solvency and therefore, that debt and the dollar as we know it, will no longer be a viable fiat currency, but will thereby collapse at an epic scale, to be replaced by something else, that is secured by something of lasting merit and of value.