WASHINGTON (AP) — The government ran a $1.3 trillion for the budget year that ended last month, the third straight year it has operated more than $1 trillion in the red.
The 2011 budget deficit was the second highest on record. It's slightly ahead of the previous budget year's $1.29 trillion deficit but below the $1.41 trillion imbalance record in 2009.
A decade ago, the government was running surpluses and trillion-dollar deficits seemed unimaginable. But those deficits now loom over tense negotiations in Washington.
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