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.
Definition of Deficit and Debt. 1  Deficit relies to the annual borrowing requirement of the government. (often referred to as budget deficit) 2  Debt related to the total level of public sector debt built over previous years. (often referred to as national debt) 3  In 2010/11 UK public sector deficit is forecast to be around Â£149bn of or 12% of GDP.