What is another word for deficit?

1070 synonyms found


[ dˈɛfɪsˌɪt], [ dˈɛfɪsˌɪt], [ d_ˈɛ_f_ɪ_s_ˌɪ_t]

Synonyms for Deficit:

How to use "Deficit" in context?

The deficit is the shortfall between how much the government spends and how much it takes in through tax revenue. Deficits can occur in any fiscal year, but they are especially common during times of slack economic growth when revenues don't keep pace with spending. Declining tax revenue most often reflects slower economic growth, reductions in federal aid (especially for social programs like Medicare and Medicaid), and a shift in taxes from high-income earners to lower- and middle-income taxpayers. Fiscal austerity - decreased government spending as a percentage of GDP - may also contribute to deficits since it increases the amount that must be raised in taxes.

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