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

Example Sentences

Some of the city’s projected deficits were because of policy commitments passed by the council that weren’t adequately funded, Gusdorf said.

From The Wall Street Journal

But it’s had the opposite effect on inflation, given the nation’s trade in goods deficit, which leads to higher interest rates and elevated borrowing costs.

From Barron's

So far the status of the dollar as the world’s dominant global currency, and therefore the U.S.’s so-called “exorbitant privilege” of being able to run sustained balance-of-payments deficits without penalty, has remained intact.

From Barron's

Homeowners can take out mortgages that foreigners envy, U.S. companies raise money easily and the federal government can run massive deficits year after year.

From The Wall Street Journal

Takaichi is far from that point: markets calmed in the following days, and Japan's modest budget deficit allows it to absorb shocks.

From Barron's

Related Words

• loss
• shortfall