The federal government recorded a $1.3-trillion budget deficit in the 2011 fiscal year, roughly even with the previous year's shortfall.
An analysis from the nonpartisan Congressional Budget Office released Monday showed that federal government took in $2.3 trillion while spending $3.6 trillion. Receipts increased at a faster rate than the growth in spending -- 6.5% versus 4.2%, respectively.
The deficit as a share of the national economy actually decreased slightly from 9% to 8.7%, though that figure was still the third-highest since World War II.
The analysis comes as congressional negotiators are working to meet a Thanksgiving deadline to put forward a plan to slash long-term deficits by $1.5 trillion.
