deficit Definition
- 1the amount by which something, especially a sum of money, is too small
- 2a lack or shortage
Using deficit: Examples
Take a moment to familiarize yourself with how "deficit" can be used in various situations through the following examples!
Example
The company is facing a budget deficit this year.
Example
The trade deficit has widened to $50 billion.
Example
There is a deficit of skilled workers in the industry.
Example
The team overcame a 10-point deficit to win the game.
deficit Synonyms and Antonyms
Synonyms for deficit
- deficiency
- dearth
- shortfall
- scarcity
- insufficiency
Antonyms for deficit
- excess
- surplus
Idioms Using deficit
make up for lost time/deficit
to work harder or faster than usual in order to compensate for time or opportunities that have been lost
Example
After being sick for a week, she had to make up for lost time at work.
in the red (or black) (financially)
to be in debt (or not in debt)
Example
The company has been in the red for the past two years.
robbing Peter to pay Paul
to take from one source in order to pay another
Example
He's been robbing Peter to pay Paul, borrowing money from one credit card to pay off another.
Phrases with deficit
budget deficit
a situation where the government spends more money than it receives in revenue
Example
The country's budget deficit has been increasing for the past few years.
trade deficit
a situation where a country imports more goods and services than it exports
Example
The trade deficit between the two countries has been a point of contention in recent years.
attention deficit
a condition characterized by difficulty in concentrating on a task for an extended period of time
Example
Children with attention deficit disorder often struggle in school.
Origins of deficit
from Latin 'deficit', meaning 'it is lacking'
Summary: deficit in Brief
The term 'deficit' [def-uh-sit] refers to a lack or shortage of something, often a sum of money. It can also denote a shortfall in skills or resources, as in 'There is a deficit of skilled workers in the industry.' 'Deficit' extends into phrases like 'budget deficit,' and idioms like 'make up for lost time/deficit,' implying compensating for lost opportunities, and 'robbing Peter to pay Paul,' indicating taking from one source to pay another.
