Answer: Not really. Not in the short term, anyhow. Americans have net negative savings, so it would not hurt American's savings, just wipe out their debts. Hyperinflation basically cleans the slate, and is easily countered by simply turning off the presses once you're finished inflating the currency to inflate your debts away.
The biggest problem with hyperinflation is that it kills the banking system as a private enterprise. The banking system ends up having to be taken over by the State. But then, we're already at that point.
Does this mean I want hyperinflation to happen? No. It just means that I believe deflation is a more significant problem than inflation at this point, and that the risks of hyperinflation are less than the risks of a deflationary spiral and liquidity trap situation.
-- Badtux the Monetary Penguin