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Meaning of deficit

def•i•cit

Pronunciation: (def'u-sitBrit.also di-fis'it), [key]
— n.
  1. the amount by which a sum of money falls short of the required amount.
  2. the amount by which expenditures or liabilities exceed income or assets.
  3. a lack or shortage; deficiency.
  4. a disadvantage, impairment, or handicap: The team's major deficit is its poor pitching.
  5. a loss, as in the operation of a business.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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