deficits

Noun

deficit (plural deficits)

1. Deficiency in amount or quality; a falling short; lack.
   • The crop output this year has been comparatively small, owing to the deficit in rainfall.
2. A situation wherein, or amount whereby, spending exceeds (e.g. government) revenue.
   • Dr. Beeching's obvious intent is that if Scottish—and similarly unprofitable English and Welsh—railways are to be maintained, it must be done by an unconcealed subsidy; he is determined that the railways shall no longer be preoccupied with—and derided for—immense deficits which include the burden...1962 October, “Talking of Trains: Passed to you, Mr. Macmillan”, in Modern Railways, page 220