In economics, deficit is the excess of an organization's expenditure over its revenue, such as in: Deficit spending, the amount by which spending exceeds revenue Government deficit spending: a negative government budget balance; fiscal deficit of that year= total borrowing by government Primary deficit, the pure deficit derived after deducting the interest payments Structural and cyclical deficit, parts of the public sector deficit Income deficit, the difference between family income and the poverty threshold Trade deficit, when the value of imports exceed the value of exports; a negative balance of trade
See also Balance of payments deficit, when the balance of payments is negative Equity (finance) with a negative balance