Noun

(en noun)

Deficiency in amount or quality; a falling short; lack.

A situation wherein, or amount whereby, spending exceeds government revenue.

* 2013 September 28, , " London Is Special, but Not That Special," New York Times (retrieved 28 September 2013):

Economically, too, London is startlingly different. The capital, unlike the country as a whole, has no budget deficit : London’s public spending matches the taxes paid in the city. The average Londoner contributes 70 percent more to Britain’s national income than people in the rest of the country.

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Noun

(en noun)

State or condition of not meeting a desirable or intended objective, opposite of success.

* {{quote-news, year=2012, date=May 5, author=Phil McNulty, work=BBC Sport

, title= Chelsea 2-1 Liverpool , passage=For Liverpool, their season will now be regarded as a relative disappointment after failure to add the FA Cup to the Carling Cup and not mounting a challenge to reach the Champions League places.}}

* {{quote-news, year=2012, date=April 23, author=Angelique Chrisafis, work=the Guardian

, title= François Hollande on top but far right scores record result in French election , passage=Sarkozy's total will be seen as a personal failure . It is the first time an outgoing president has failed to win a first-round vote in the past 50 years and makes it harder for Sarkozy to regain momentum.}}

An object, person or endeavour in a state of failure or incapable of success.

Termination of the ability of an item to perform its required function, breakdown.

* {{quote-magazine, date=2013-06-28, author=(Joris Luyendijk)

, volume=189, issue=3, page=21, magazine=(The Guardian Weekly) , title= Our banks are out of control , passage=Seeing the British establishment struggle with the financial sector is like watching an alcoholic […].  Until 2008 there was denial over what finance had become. When a series of bank failures made this impossible, there was widespread anger, leading to the public humiliation of symbolic figures.}}