/ Dictionary / Index D deficit: Meaning and Definition of Find definitions for: def•i•cit Pronunciation: (def'u-sitBrit.also di-fis'it), [key] — n. the amount by which a sum of money falls short of the required amount. the amount by which expenditures or liabilities exceed income or assets. a lack or shortage; deficiency. a disadvantage, impairment, or handicap: The team's major deficit is its poor pitching. a loss, as in the operation of a business. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. See also: deficit (Thesaurus) deficient number deficit financing Related Content Daily Word Quiz: respite Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language