Will the dollar really collapse in 2009-2010?

It may not (hopefully) reach the proportions of the Weimar collapse, but I can't see how the deficit could be demonitized without at least a 100-200% increase in the inflation rate.

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Obviously, I get into debt. Can my debts continue to get ever larger without end?

No. Of course not. There is always a limit. For an individual who runs up his credit cards there is always a day of rekoning.

What happens when my cards are all maxed out and I am refused a new credit card?

The difference with the national debt is that goverments rarely default. They just print money to cover their obligations!

When the government bond ponzi scheme collapses, hyperinflation will become a day-to-day reality.

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the dollar is on a collision course with doom. sooner than later.

If the dollar collapsed that would not be the end. I would say that it would be the easiest way to clear the debt that the U.S. had. Unfortunately, if the dollar collapsed people that had cash they also would lose from the devaluation. It would be the win-win situation for those that did not have any cash and owed money, and for the government to start over with no debt.
I am coming from a country that experienced twice devaluation of the currency. It definitely was not a nice experience for those that had built their savings for entire life. It hit hard people that were about to retire or already retired, and those holding their savings in the currency that collapsed. It hit my family too.
Since the United States' debt is in its own currency and has sold long term bonds for a low rate, so then devaluating the dollar will make it much easier to repay the debt because we will pay them back tenth or less for the dollar that they have lent to us. Technically that is possible. Either the government could initiate that or other countries national banks would sell their dollar positions and trigger the collapse of the dollar.
Some people would say that if such thing happened that would cause no other country to lend us money anymore, or it might keep the interest rates in double digits for long time. I agree with that, however, which situation would be better? We to keep paying billions or later trillions in interest and slowly going to the point of bankruptcy, or just make others to lose more, instead we to be the only ones to pay for it.
Soon or later we will come to that point, better now than later. The United States is a leader and I assume that no other country would be able to harm or threaten us. We should think about our interests first than thinking what China, Japan, and all Gulf Countries would lose.

Nice job looking at the budget. You're points are well taken and based on reason. But that's part of the problem. Our Congress is not looking at the budget and the mounting deficits. They aren't using reasonable accounting (as you did) they are just looking at what gets them elected next time around. The lesson they are (erroniously) learning is that they can keep giving away Trillions w/ no consequence. They are wrong, of course. Almost all nations that have piled up huge deficits, backed by fiat currency have collapsed. The collapse of the dollar will happen, if they remain on the present course and that will lead to the collapse of the US, then world economy. It may take decades to recover to something above mere subsistence.
The good thing. It doesn't have to happen. We can still rein in gov't spending and return to being a nation of producers and savers, if we can only get back to a sound money system. I'm hopeful, but the signs are not looking good.

"..shall not be infringed."

... insists the problem is about Iran's desire for nukes! Here is where their real fears lie!

http://www.atimes.com/atimes/Global_Economy/JB21Dj07.html

http://www.energybulletin.net/node/32086

http://www.energybulletin.net/node/12125

"Whenever I despair, I remember that the way of truth and love has always won. There may be tyrants and murderers, and for a time, they may seem invincible, but in the end, they always fail. Think of it: always"
Gandhi

Here is a good blurb from wikipedia

In the current scheme of fiat money, the U.S. government is free to print all the money it wants. Consequentially, the government cannot technically go bankrupt as any debtor nation can just issue more money through a practice known as seigniorage.[52]

If there is a gross imbalance between the amount of new money being brought into circulation and the amount of economic goods that are represented by an economy, then there is an unstable situation that can lead to hyperinflation.[53] This has been observed in smaller nations such as Argentina in 1989; the International Monetary Fund and World Bank try to end such crises by working with the problem country to institute sound economic policies and restore faith in the international community that the country can again service its debt with a stable currency.[54]

The interest rate offered on new bond issues is the one that clears the market. On December 13, 2006, the U.S. 30-year treasury note had a rate of 5.375%. Were investors to become concerned about the future value of the US Dollar, they would demand a higher interest rate on US bonds to compensate them for the risk they are assuming.

http://www.ft.com/cms/s/0/12eab3b4-bf06-11dd-ae63-0000779fd1...

"The current strength of the dollar is temporary and the US currency risks a hard landing in 2009, according to a team of United Nations economists who foresaw a year ago that a US downturn would bring the global economy to a near standstill.

In their annual report on the world economy published on Monday, the economists said the dollar’s sharp rebound this autumn had been driven mainly by a flight to the safety of the international reserve currency as the financial crisis spread beyond the US.

The overall trend remained a downward one, however, reflecting perceptions that the US debt position was approaching unsustainable levels. An accelerated fall of the dollar could bring new turmoil to financial markets.

Investors might renew their flight to safety, though this time away from dollar-denominated assets, thereby forcing the US economy into a hard landing and pulling the global economy into a deeper recession,” the report said.

The UN team said that, as the financial crisis spread beyond the US, there had been a massive shift of global financial assets into US Treasury bills, driving their yields almost to zero and pushing the dollar sharply higher. At the same time, however, the US’s external debt had risen to new heights that could provoke a dollar collapse."