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- DictionaryDef·i·cit/ˈdefəsət/
noun
- 1. the amount by which something, especially a sum of money, is too small.
Learn the meaning of deficit as a noun, with synonyms, examples, and word history. Deficit can mean a lack, a disadvantage, or an excess of expenses over income.
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Learn the meaning of deficit in English, a noun that refers to the amount by which money spent is more than money received, or the state of having spent more money than has been received. Find out how to use deficit in different contexts, such as budget, trade, score, or lack, and see related words and phrases.
- What Is A Deficit?
- Understanding Deficits
- Other Deficit Terms
- Advantages and Disadvantages of Running A Deficit
- Today's Federal Budget Deficit in The U.S.
- The Bottom Line
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In financial terms, a deficit occurs when expenses exceed revenues, imports exceed exports, or liabilities exceed assets. A deficit is synonymous with a shortfall or loss and is the opposite of a surplus. A deficit can occur when a government, company, or person spends more than it receives in a given period, usually a year.
Whether the situation is personal, corporate, or governmental, running a deficit will reduce any current surplus or add to any existing debt load. For that reason, many people believe that deficits are unsustainable over the long term. On the other hand, the famous British economist John Maynard Keynes maintained that fiscal deficitsallow governmen...
Along with trade and budget deficits, these are some other deficit-related terms you may encounter: 1. Current account deficitis when a country is importing more goods and services than it exports. 2. Cyclical deficitsoccurwhen an economy is not performing well because of a down business cycle. 3. Deficit financingrefers to the methods governments ...
Deficits are not always unintentional or the sign of a government or business that's in financial trouble. Businesses may deliberately run budget deficitsto maximize future earnings opportunities—such as retaining employees during slow months to ensure themselves of an adequate workforce in busier times. Also, some governments run deficits to finan...
In May 2023, the Congressional Budget Office (CBO) projected a federal budget deficit of $1.5 trillion for 2023. The CBO specified that this is subject to considerable uncertainty partly due to a shortfall in tax revenue. In fact, as of July 2023, the deficit has surpassed the estimate, sitting at $1.6 trillion. In terms of the national debt, the C...
A deficit occurs any time expenses exceed income. For personal finance, it's important to manage your financial deficits, ideally spending within your means and saving your money. Similarly, large government deficits aren't ideal but sometimes necessary to fund government programs or public infrastructure.
A deficit is when expenses exceed revenues, imports exceed exports, or liabilities exceed assets. Learn about the different types of deficits, such as budget and trade, and their advantages and disadvantages for governments and businesses.
Deficit is the amount by which money spent is more than money received, or the state of having spent more money than has been received. Learn more about deficit in different contexts, such as budget, trade, score and lack, with examples and synonyms.
Deficit is a noun that means the amount by which a sum of money falls short of the required amount, or a lack or shortage of something. Learn more about the origin, usage, and examples of deficit from Dictionary.com.
Deficit is the amount by which money spent or owed is greater than money earned in a particular period of time. Learn how to use the word in different contexts, such as trade, budget, or sports, with pictures and pronunciation.
Learn the meaning of deficit as a noun, with examples of different types of deficits, such as budget, trade, and hearing deficits. Find out the opposite of deficit and how it relates to surplus.
