Where more of something (usually money) has been spent than earned.
In deficit
Fact of the Day
The first people to use umbrellas in eighteenth-century Britain were laughed at and called 'mincing Frenchmen'.
Quote of the Day
"Pray for me, now my calamity is at hand!
"
~ John Stubbs, just before having his hand removed for seditious writing, 1579
On This Day
1787 The 'First Fleet' of 11 ships carrying convicts to Australia left England.
1888 Slavery was abolished in Brazil.