Really? How?

> If you printed your way out of debt that would be a default in all but name.

Oh, right, actually they don't. So in fact it is actually impossible to default on debt in your own currency and you're admitting as much.

> You would cause a collapse of credit and a collapse in confidence in the currency itself.

Right. And a reduction of value of a currency is also called inflation. Which is pretty well accounted for within the discussion.