The CPI is an arbitrary indicator set and counted by the government in secrecy, the same entity that has the incentive to keep its value low. Even if someone trusts the government, it does not mean they should trust it completely.
* https://www.forbes.com/sites/perianneboring/2014/02/03/if-yo...
* https://www.forbes.com/sites/greatspeculations/2020/08/31/is...
As I mentioned before printing money not backed by the creation of value diminishes the value of money. Otherwise why bother working. The government could print money for all of us and we could party all the time. The printing press was invented quite a while ago, I wonder why no one come up with this solution earlier!
The debt is a burden and increasing it, increases the burden. You can argue of utility of increasing the debt in bad times, but then it should be decreased in good times. If it is not happening then there is something fundamentally wrong.