deficit

plural deficits

1. Deficiency in amount or quality; a falling short; lack.

   The crop output this year has been comparatively small, owing to the deficit in rainfall.

2. A situation wherein, or amount whereby, spending exceeds (e.g. government) revenue.

   But Wall Street, which has a case of deficit-attention disorder, is no longer focused on a balanced budget. "The bond market only worries about one thing at [a time.]

   1996 August 4, “It's Time for a Reality Check on the Deficit”, in Contra Costa Times, Contra Costa, CA

   2 more examples

   Dr. Beeching's obvious intent is that if Scottish—and similarly unprofitable English and Welsh—railways are to be maintained, it must be done by an unconcealed subsidy; he is determined that the railways shall no longer be preoccupied with—and derided for—immense deficits which include the burden of social services the State must openly underwrite, if it wants them.

   1962 October, “Talking of Trains: Passed to you, Mr. Macmillan”, in Modern Railways, page 220

   Economically, too, London is startlingly different. The capital, unlike the country as a whole, has no budget deficit: London’s public spending matches the taxes paid in the city. The average Londoner contributes 70 percent more to Britain’s national income than people in the rest of the country.

   2013 September 28, Kenan Malik, “London Is Special, but Not That Special”, in The New York Times, archived from the original on 16 Jun 2022, retrieved 28 Sep 2013