Do you really believe that when were are looking at the effects of deficit spending (such as inflation, debt, growth) the absolute number of dollars in the defi

Do you really believe that when were are looking at the effects of deficit spending (such as inflation, debt, growth) the absolute number of dollars in the deficit is more important than an inflation or gdp adjusted number? Imagine we passed a law that only made one tenth of currency still viable, and reduced the size of all owed debts and contacts denominated in dollars by 10x. Effectively making the dollar 10x more valuable. This would cut our absolute deficit spending by 10x. Would this then let us increase inflation adjusted government spending by 10x without suffering any ill effects from deficit spending? The obvious answer to that is no, which then implies inflation or gdp adjusted deficit spending is a far more important metric.