Paranoid,
There will be inflation especially in food and energy. Your salary may not keep up with your living expenses. I have no idea what your situation is, but for the average person I think this could be true. It depends on what kind of debt you have, too. If the rates are fixed, obviously that is better. Interest rates tend to rise during inflation because investors want to make a return over inflation. The recent supression of rates will not continue forever, maybe. That is a big question.
Ernest
Its obvious Old Ben is going to inflate the dollar, as Chris predicted. WIth that said, debts will be inflated away too. So why does everyone say to get out of debt when the trend is, like the US Gov't, to inflate it away?