deficit

noun

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.

noun

1. the amount by which an actual sum is lower than that expected or required
2. 1. an excess of liabilities over assets
   2. an excess of expenditures over revenues during a certain period
   3. an excess of payments over receipts on the balance of payments

n.

1782, from French déficit (late 17c.), from Latin deficit “it is wanting,” an introductory word in clauses of inventory, third person singular present indicative of deficere “to be deficient” (see deficient).

n.

1. A lack or deficiency of a substance.
2. A lack or impairment in mental or physical functioning.

A shortage, especially the amount by which a sum of money falls short of what is required; a debt.