This is also why the Founding Fathers insisted on "money" being gold and silver, and ones like Jefferson fought bitterly against having a national bank / central bank.
Its been known for 1000s of years that a central authority that can print its own fiat money and create debt at will, will become corrupt and infested with rent-seekers.
As you probably know our obscene national debt is DWARFED by our unfunded liabilities (some $170 trillion, but whose counting?). The ability to simply print money has put this country in an untenable financial position. Future generations are being left with a giant bag to hold which is immoral as hell.