Definitions of deficit
(ACCOUNTING; ECONOMICS) the total amount by which money that a government or a business spends or owes is more than the money it receives
The US trade deficit widened in March for the first time since July 2008, as sales of exports fell amid the recession.
the total amount by which something, usually money, is smaller than something else
Waterford Wedgwood has a pension fund deficit of more than £2m.