What does the word deficit mean?

Usage examples for deficit

  1. Finding however that, despite his efforts to reduce expenditure, he could not avoid an annual deficit, the council- pensionary took the bold step of proposing a further reduction of interest from 5 to 4 per cent. – History of Holland by George Edmundson
  2. The total deficit having now reached over sixteen hundred dollars, there was a general feeling that a very special effort must be made to remove it. – The Hohenzollerns in America With the Bolsheviks in Berlin and other impossibilities by Stephen Leacock