deficit

American  

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

noun

deficits plural

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

Derived Forms

• superdeficit
  noun

Inflected Forms

Nouns

• deficits
  plural

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”; see 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

Brasília’s budget deficit was a gaping 9.4% of GDP in April, while government debt equaled 80.4% of output, according to central bank data.

From The Wall Street Journal • Jun. 17, 2026

To eliminate the future deficit, the district focused on discretionary spending.

From Los Angeles Times • Jun. 17, 2026

This comes after inflation topped 4% in May, moving further away from the Fed’s 2% target, and as concerns grow about the large U.S. deficit.

From MarketWatch • Jun. 15, 2026

Economists expect further interest rate hikes, spelling potential trouble for the government's budget deficit, which it is required by law to keep at no more than three percent of GDP.

From Barron's • Jun. 14, 2026

There’s always profit-taking or the federal deficit or something or other to account for a bearish turn, and improved corporate earnings or interest rates or whatever to account for a bullish one.

From "Innumeracy: Mathematical Illiteracy and Its Consequences" by John Allen Paulos

Related Words

• loss
• shortfall