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”; 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

The Social Security actuaries project that the costs of Social Security over the next 75 years average 6.1% of GDP and revenues of 4.8%, leaving a deficit of 1.3% of GDP.

From MarketWatch • Apr. 28, 2026

On Monday, Carney said that Canada's financial position had improved and that the deficit was lower than what his government had anticipated, allowing for the creation of the Canada Strong Fund.

From BBC • Apr. 27, 2026

The current account is the broadest indicator of a country’s trading and investing relationship with other nations, and a deficit may reflect a low level of national savings relative to investment.

From The Wall Street Journal • Apr. 27, 2026

Thailand's Patty Tavatanakit began the day five shots adrift in second but was unable to reduce the deficit, having also ended her tournament with a two-under-par 70.

From BBC • Apr. 26, 2026

All half- bloods had attention deficit problems because of our inborn battlefield reflexes.

From "The Titan's Curse" by Rick Riordan

Related Words

• loss
• shortfall