The word deficit comes from the Latin " deficere " which can be translated as missing, weak, it is the scarcity of the difference of some things that are needed or that are considered as essential that can be applied to different products or goods, from food to money, that it is used in a commercial context at the corporate and state level.
The budget deficit is the one associated with the public administration, and it is provided when the expenses specified by the state are higher than its income during a certain period of time, it does not necessarily mean that there is a loss, but it can also mean lower income.
The public deficit is the negative amount that results when expenses or debits are greater than income or credits, it should be noted that whenever the term deficit is used and the lack of an important good for permanence is being considered, because has enough money to acquire, and especially because it is the state goods when the balance is made and the lack of a good distribution of the budget in the acquisition of goods and services.
The state has a fiscal deficit, it refers to a lack of something that when over a certain time it has spent more money than it has collected in a certain sector in the public administration, where it is said that it is referring to an imperfection on the balance sheet of all sectors.
