As Cheney said, "Deficits don't matter." If the dollar collapses, not only will everything become more expensive, political stability is at risk.
"Countries are growing weary of losing money on the falling dollar. Many of them want to protect their financial interests, and a number of them want to end the US oversight that comes with using the dollar. Although it’s not clear how many of these countries will actually follow through on an abandonment of the dollar, it is clear that its status as a world currency is in trouble."