If we lower the dollar we’ll have to pay more interest on the loans to finance that debt. Which would require higher taxes which would make our products uncompetitive.
The only way to support our huge welfare state now would be to use our military before it evaporates to enslave England or Brazil, or both.
Raising the federal funds rate would cause viral interest rate increases throughout the economy. It would be interesting to see government forcibly shrunk to a more appropriate size, not to mention bond collapse, default, repudiation and office closings.