deficit Hear it!

deficit definition

defi·cit (def′ə sit)

noun

the amount by which a sum of money is less than the required amount; specif., an excess of liabilities over assets, of losses over profits, or of expenditure over income

Etymology: L, there is lacking, 3d pers. sing., pres. indic., of deficere (see deficiency): from use as first word in inventory clauses

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