Making charts isn't my strong point, but I will give it a shot. Total Credit Market Debt Owed is the total of all marketable debt in the US. It is also an asset to the creditor. When this number shrinks it causes the bankster class to freak out.
TCMDO less Fed Gov debt peaked on 9/30/2008 at about $47 tn, and then shrank until it hit bottom on 9/30/2010, and since then it has been flat at about $44 tn, although it grew about 0.6% in the last quarter of 2012.
In order for the economy to grow, more and more debt must be pumped into the system. Private debt has reached its limit, so the only way for total debt to grow is for public debt to increase. This will continue until public debt reaches its limit. No one knows what this limit is, and the uber-keynesians truly believe that there is no limit, but I think we will have another crisis about 2016 when the Fed stops pumping money and interest rates start to climb.
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