be in the red

To be in debt. This phrase is often applied to businesses and refers to the traditional bookkeeping practice of writing outgoing funds in red ink (and incoming funds in black). We're back in the red because sales are way down this quarter. I have so many outstanding parking tickets that I'll be in the red if I pay them all off at once! Our company's been in the red all year—we'll take any government subsidies we can get!