Dace definition: A dace is a type of fish that lives in rivers and lakes . | Meaning, pronunciation, translations and examples English Dictionary | Thesaurus | Translator | Grammar | Scrabble | Blog English
A budgetary situation when the expenses incurred by the government are over and above the tax revenues taken in. Also called Federal Debt.
1. budget deficit-an excess of expenditures over revenues. deficit-an excess of liabilities over assets (usually over a certain period); last year there was a serious budgetary deficit. federal deficit-an excess of the federal government's spending over its revenue; federal deficits can cause inflation.