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deficit

noun
def·​i·​cit | \ ˈde-fə-sət How to pronounce deficit (audio) , British also di-ˈfi-sət or ˈdē-fə-sət\

Definition of deficit

1a(1) : deficiency in amount or quality a deficit in rainfall
(2) : a lack or impairment in an ability or functional capacity cognitive deficits a hearing deficit
b : disadvantage scored two runs to overcome a 2–1 deficit
2a : an excess of expenditure over revenue facing a deficit of $3 billion raise taxes to help reduce the budget deficit
b : a loss (see loss sense 4b) in business operations the year's operating deficit
Synonyms & Antonyms More Example Sentences Learn More about deficit

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Examples of deficit in a Sentence

The government is facing a deficit of $3 billion. We will reduce the federal budget deficit. The team overcame a four-point deficit to win the game. She has a slight hearing deficit in her left ear.
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Recent Examples on the Web

 The first part is highly unlikely in the current fiscal environment, with the federal government expected to run a $1 trillion deficit in the next fiscal year. — CBS News, "Trump looks to mental institutions as solution to gun violence, despite experts' concerns," 30 Aug. 2019 It was cut in 2010, when the state Department of Agriculture’s budget was slashed, part of widespread cutbacks aimed at closing a major deficit in the state budget that year. — Jamie Munks, chicagotribune.com, "‘Perhaps no fair has as rich a history as the Du Quoin State Fair’: Inside Illinois’ other statewide annual summer celebration," 30 Aug. 2019 The first part is highly unlikely in the current fiscal environment, with the federal government expected to run a $1 trillion deficit in the next fiscal year. — Kevin Freking, BostonGlobe.com, "Trump eyes mental institutions as answer to gun violence," 30 Aug. 2019 After opening the game with a scrappy attack of its own, a miscue by Pride goalkeeper Ashlyn Harris forced the team into a 1-0 deficit in the ninth minute. — Julia Poe, Pro Soccer USA, "Orlando Pride fall 2-1 to Washington Spirit in front of sold-out Audi Field crowd," 26 Aug. 2019 The Tigers erased a 17-point deficit in the fourth quarter and won 48-44. — Justin Maskulinski, Houston Chronicle, "Patience has paid off for Conroe QB Christian Pack," 24 Aug. 2019 San Leandro erased a 14-point deficit in the final 5:41 of the fourth quarter then scored the only touchdown in overtime to pull out a 28-20 victory over Foothill on Friday at Amador Valley High. — Curtis Pashelka, The Mercury News, "High school football: San Leandro starts season in exhilarating fashion," 23 Aug. 2019 The Mustangs overcame six turnovers and a 12-point deficit in 2018 to win 25-22 and even the series record at 4-4. — J.c. Carnahan, orlandosentinel.com, "Orlando area high school football predictions for Week 1," 22 Aug. 2019 The deficit in the trade of goods with China fell 7.5% to $30 billion. — Washington Post, "US trade deficit falls 0.3% in June," 2 Aug. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'deficit.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of deficit

1782, in the meaning defined at sense 1a(1)

History and Etymology for deficit

borrowed from French déficit, going back to Middle French, "item lacking in an inventory," borrowed from Latin dēficit "it is lacking," 3rd person singular present indicative of dēficere "to be lacking, run short, fail" — more at deficient

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More Definitions for deficit

deficit

noun

Financial Definition of deficit

What It Is

A deficit occurs when expenses exceed revenues, imports exceed exports, or liabilities exceed assets. A deficit is the opposite of a surplus.

How It Works

Fiscal deficits occur when an entity's (usually a government) expenditures exceed its revenue. A government usually borrows money to fill the gap or "fund the deficit." Most governments finance their debt by selling government bonds.

Trade deficits (also called current account deficits) occur when a country imports more than it exports. The difference between exports and imports is called net exports.

Why It Matters

Deficits are controversial. The famous economist John Maynard Keynes argued that fiscal deficits stimulated economies by allowing governments to purchase goods and services and were thus particularly useful for getting countries out of recessions. However, many scholars argue that governments should not incur fiscal deficits regularly because the cost to service the debt takes away from government spending that could be better used elsewhere.

Meanwhile, supporters of trade deficits say they are the direct result of global competition. Thus, the deficits exists because consumers are making a choice to buy foreign goods whether it be because of a difference in quality, price, or any other reason. Opponents of large trade deficits believe the deficit provides jobs to foreign countries instead of creating them at home, thus hurting the domestic economy.

Source: Investing Answers

deficit

noun
How to pronounce deficit (audio)

English Language Learners Definition of deficit

: an amount (such as an amount of money) that is less than the amount that is needed
: the amount by which a person or team is behind in a game or contest
chiefly US : a problem that causes a decrease in some ability

See the full definition for deficit in the English Language Learners Dictionary

deficit

noun
def·​i·​cit | \ ˈde-fə-sət How to pronounce deficit (audio) \

Kids Definition of deficit

: a shortage especially in money

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