Better voters get better politicians: The average American owes more than the government as a percentage of annual income.

"While government debt sits at 94 percent of national revenue, U.S. household debt sits at a whopping 107 percent of personal income. The household balance sheets of Americans are in worse condition than anytime since the Great Depression".    Steve Beck for Yahoo Finance.

For most, a house is the main asset.  Policy that promoted low down payment mortgages and the consequent plunge in house prices can't be uniquely blamed on voters.