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Whether or not the debt actually went down any time in the recent past is debatable. What is not debatable is that it has been going up very quickly since 2001.  What is not debatable is that it now amounts to over nine trillion dollars, or $30,000 for every man, woman, and child in the country.  That's $120,000 for a family of four, and it is not a secured debt.  It is more like a credit card debt than a mortgage.