WASHINGTON -- Congressional analysts say the U.S. government ran a $1.4 trillion budget deficit for the 2009 fiscal year that ended last week.

The flood of red ink smashes previous records and flows from several factors, including a big drop in tax revenues due to the recession, $245 billion in emergency spending on the Wall St. bailout and the takeover of mortgage giants Fannie Mae and Freddie Mac, and almost $200 billion in costs from President Barack Obama's economic stimulus bill.

The previous record deficit was $459 billion and was set just last year...