A US Dollar is backed by people's belief in the ability of the Federal Government of the United States to continue to exist. The government exists through tax dollars. Theoretically, the economy grows and literally more dollars are created by the government which is OK because the economy has grown and with it an increase in the government's tax revenue.
The government taking on the massive amount of debt (much of it toxic debt taken on from private sources in the recent bailouts) it has in the past decade or so with no end in sight and no sign of economic growth is a major problem. Because they are putting more money into the system and there HAS NOT been an increase in tax revenue, if anything a decline. So that debt has to be financed. And various private and foreign state entities buy it because they believe they will be paid back. But happens if those entities stop investing in the US debt (for any number of reasons, not necessarily to be malicious)? Then the ability of the US Federal Government to spend is virtually destroyed. And combine that with the coming double digit unemployment rate and you have a very bad situation.
So I would have to say I disagree with your plan Aramike. Just another way to drastically increase debt, which is INCREDIBLY dangerous at this point. We need to focus on eliminating debt right now.
You can't just make it go away with shuffling paper.
PD