noun
deficit
DEH-fih-siht
noun
1
A shortfall or lack — an amount by which something falls short of what is needed or expected.
"The team is running a talent deficit after two star players left."
"Years of poor sleep left him with a real energy deficit."
2
In finance or government, the amount by which spending exceeds income.
"The government posted a record budget deficit this year."
"The company had to borrow to cover its trade deficit."
How to Use Deficit
Learner’s notesIn plain EnglishA gap where something — usually money — is missing compared to what should be there.
Common mistake
A "deficit" is a shortfall; a "debt" is what has built up as a result of running deficits over time — they are related but not interchangeable.
Common pairings
budget deficit
trade deficit
run a deficit
attention deficit
Word Forms
deficits plural
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The team is running a talent _____ after two star players left.
Etymology
From French déficit, ultimately from Latin dēficit ("it is lacking"). Related to "defect."