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What are deficits?

What are deficits? Here are some definitions.

Noun
  1. plural of deficit
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Examples
The findings suggest that when people with schizophrenia smoke, they may in part be self-medicating with nicotine to remedy cognitive deficits.
Even conservative Republicans are growing antsy at the new spending and the return of dreaded deficits.
Although the press airbrushed the problem out of the picture during the economic euphoria of the late 1990s, the trade deficits never went away.
Other European economies, struggling to contain their deficits, would give their right arm for such a surplus.
But now a collapsing bubble transforms ballooning revenues into ballooning budget deficits.
The patient underwent a subtotal resection of the tumor, which resulted in improved vision and only transient short-term memory deficits.

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