There is the usual caveat that government debt does not work like personal debt, having a central bank and all. But then on top of that, I would add that even government debt does not work like government debt when the government is the United States government. Having the world reserve currency means they own the world, and devaluation means they siphon resources away globally.

This is bad if you are not American or it hurts some sense of fairness you might have, but objectively it's probably good for the US.