The Fed published the Z.1 Flow of Funds at noon.
The key takeaway: Total debt continues to grow, albeit more slowly.
Since Q3 ‘08 households have cut their debt (slightly), but the federal government is borrowing so rapidly, overall debt continues to expand.
via Rolfe Winkler
Flow of Funds Accounts of the United States
Flows and Outstandings First Quarter 2009 Board
Federal Reserve, June 11, 2009