Maybe but most of the ruling class is more scared of deflation than inflation. Most of the last few years we've been fighting to avoid a deflationary spiral like the 30s. Any coming sustained inflation is a good thing.
Absolutely. In fact, inflation may be the strategy of choice to get the US out of its debt crisis. Ruling class is totally fine with inflation, because it allows them to raise wages to $15, 20, 25, 30 per hour and act like benevolent leaders when in reality wages are just catching up to where they should be after decades of stagnation.
What debt crisis? The national “debt” is not a crisis. The US has a great degree a monetary sovereignty. As long as this is true, it will always be able to pay its “debts”. The US government spends money into existence, which is a direct subsidy to either states, citizens, the private sector, or foreign interests (in the case of USG buying imported goods).
They also are more scared of nuclear war than inflation, but those aren't their choices. Inflation is bad creditors; the value of the debt inflates away. Also, the right wing, which seems to attract more wealthy people, has long used fear of inflation to support their ever-smaller-government campaign; they say government spending will cause inflation (when someone from the left is in office).