Main Entry: def·i·cit

Pronunciation: \ˈde-fə-sət, British also di-ˈfis-ət or ˈdē-fə-sət\

Function: noun

Etymology: French déficit, from Latin deficit it is wanting, 3d singular present indicative of deficere

Date: 1782

1 a (1) : deficiency in amount or quality <a deficit in rainfall> (2) : a lack or impairment in a functional capacity <cognitive deficits> <a hearing deficit> b : disadvantage <scored two runs to overcome a 2–1 deficit>
2 a : an excess of expenditure over revenue b : a loss in business operations