The risk, I think, is that US debt is in the currency the US controls. So there is the temptation to get out of the debt by inflating it away. If it becomes perceived that this will happen it could set off the collapse. And this could happen sooner than one might think.
The end game is the federal debt has been inflated away, the dollar is much lower, and dollar denominated assets have been wiped out. So (if you think this is going to happen) get your investments into equity and the like and load up on dollar denominated debt that will also be wiped away.
I feel like we've never had Weimar-style inflation in a country with the levels of consumer debt the US has.
Much of the population is paycheque-to-paycheque, so if we spent a year or two hyperinflating the currency, they might actually see a net win. They didn't have significant savings to go poof, but their $30k in credit cards, $50k car notes, $200k student loans, and $750k mortgages suddenly look trifling when you're shipping packages by stuffing them with crumpled million-dollar notes.
When the crisis ends, and we get the equivalent of the Rentenmark, they emerge with blank balance sheets and clean title on the assets they acquired before the crisis. It would be effectively a backdoor debt jubilee.
I can't imagine the domestic financial sector being too enthused.
The downside will be permanent higher interest rates, as well as intolerance for the rest of the world to continued trade imbalance with the US. Real wages in the US will go down to compensate, making the US more competitive, but the dollar will not be so immune to fiscal shenanigans as it has been. The US will be unable to maintain the same level of real spending on government programs.
The end game is the federal debt has been inflated away, the dollar is much lower, and dollar denominated assets have been wiped out. So (if you think this is going to happen) get your investments into equity and the like and load up on dollar denominated debt that will also be wiped away.