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deficit
(redirected from Budget deficits)

   Also found in: Medical, Legal, Wikipedia 0.03 sec.
Deficit
A situation in which liabilities exceed assets, expenditures exceed income, imports exceed exports, or losses exceed profits.

Notes:
A deficit is the opposite of a surplus. If a country imports more than it exports, it is said to have a trade deficit. Many scholars feel that a trade deficit can not be sustained in perpetuity.


Deficit
An excess of liabilities over assets, of losses over profits, or of expenditure over income.

deficit
1. A negative retained earnings balance. A deficit results when the accumulated losses and dividend payments of a business exceed its earnings.

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California has yet to shake the perennial budget deficits that have dogged Schwarzenegger throughout his time in office.
economic revival during the Clinton Administration, which also saw the yearly federal budget deficits give way to annual budget surpluses.
In past years as the state has faced record budget deficits such proposals were dead on arrival.
 
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