deficit

American  

[def-uh-sit, dih-fis-it] / ˈdɛf ə sɪt, dɪˈfɪs ɪt /

noun

1. the amount by which a sum of money falls short of the required amount.

2. the amount by which expenditures or liabilities exceed income or assets.

3. a lack or shortage; deficiency.

4. a disadvantage, impairment, or handicap.

   The team's major deficit is its poor pitching.

5. a loss, as in the operation of a business.

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deficit British  

/ ˈdɛfɪsɪt, dɪˈfɪsɪt /

noun

1. the amount by which an actual sum is lower than that expected or required

2. 1. an excess of liabilities over assets

   2. an excess of expenditures over revenues during a certain period

   3. an excess of payments over receipts on the balance of payments

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deficit Cultural  

1. A shortage, especially the amount by which a sum of money falls short of what is required; a debt.

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Other Word Forms

• superdeficit noun

Etymology

Origin of deficit

First recorded in 1775–85; from Latin dēficit “(it) lacks,” 3rd-person singular present of dēficere “to fail, run short, lack, weaken”; deficient

Explanation

If you're running a deficit, you are losing. You might be losing money or losing a game. Either way, you better make up for it. When the government runs on a deficit, often the loss can be offset by a raise in taxes. If you have a deficit of iron in your body, you should consider eating more spinach. The word deficit comes from the Latin deficit meaning "it is wanting." A deficit is characterized by the wanting of something missing.

Example Sentences

Faced with a $3 million deficit, South Hadley’s elected selectboard put two override questions on the ballot—one for $9 million, one for $11 million.

From The Wall Street Journal • Apr. 13, 2026

If Manchester City beat Chelsea on Sunday they will cut the gap to six points, and will trim the deficit further if they are able to beat the Gunners next Sunday.

From BBC • Apr. 11, 2026

Among the expected requests: large quantities of purchases by China, specifically for orders of soybeans, Boeing aircraft and American energy exports to slash the persistent bilateral trade deficit, The Wall Street Journal has reported.

From The Wall Street Journal • Apr. 10, 2026

Over the first six months of this staggered fiscal year, the deficit fell by 11 percent, or $139 billion, thanks to the increase in revenue that occurred between October and December due to customs duties.

From Barron's • Apr. 10, 2026

He was, after all, a doctor, and he suspected that the teacher was trying to tell them that he had failed to diagnose attention deficit disorder in his own son.

From "The Big Short" by Michael Lewis

Related Words

• loss
• shortfall