Don't worry

Sure, but percent change from 1 year prior is still well below historical norms.
If you want to look at the data in other ways, you can play with the view here:
http://research.stlouisfed.org/fred2/series/TCMDODebt growth has slowed and remains slow. Everything will look exponential if you look at it in nominal terms because the dollar has devalued exponentially.
remains huge.