deficit

  1. Noun.  Deficiency in amount or quality; a falling short; lack.
  2. Noun.  A situation wherein, or amount whereby, spending exceeds government revenue.

This is an unmodified, but possibly outdated, definition from Wiktionary and used here under the Creative Commons license. Wiktionary is a great resource. If you like it too, please donate to Wikimedia.

This entry was last updated on RefTopia from its source on 3/20/2012.