The phrase "accept a deficit" is correct and usable in written English.
It can be used in contexts where one acknowledges or agrees to a shortfall, particularly in financial or resource-related discussions.
Example: "In order to move forward with the project, we must accept a deficit in our budget for the first quarter."
Alternatives: "acknowledge a shortfall" or "tolerate a loss".
"I cannot accept a deficit in competitiveness with our main economic partner, Germany," he said recently.
At last night's Republican debate, all of the candidates were asked if they would accept a deficit deal that included 10 dollars in real spending cuts for every dollar in revenue increases.
In an effort to show that they had offered major concessions, Democrats disclosed on Wednesday that they were willing to accept a deficit reduction deal including much smaller tax increases than they had originally proposed.
And when candidates at the Ames, Iowa, debate were asked if they'd accept a deficit reduction plan with $1 in tax increases for every $10 in spending cuts, he stood with the pack in saying no.
-- President Barack Obama reaffirmed on Thursday that he will not accept a deficit reduction package if it doesn't include tax revenues, and invited Republicans to a debate over spending cuts in the "court of public opinion".
Senators John McCain of Arizona and Lindsey Graham of South Carolina, both defense hawks, have adopted a position that they would accept a small deficit deal — perhaps $200 billion to $300 billion — to cancel the next two to three years of sequestration, spare the Pentagon further cuts, and build good will for a broader deal.
We had presidential candidates who stood on a stage and were asked, "Would you accept a budget package, a deficit reduction plan, that involved $10 of cuts for every dollar in revenue increases?" Ten-to-one ratio of spending cuts to revenue.
But he has also had to accept a slower pace of deficit reduction than originally planned.
The west's leading economic thinktank warned George Osborne he might need to accept a slower pace of deficit reduction as it toned down the staunch backing it has provided for the government's austerity programme since the 2010 election.
Mr. Obama, in early August, accepted a smaller deficit-reduction package with only spending cuts to secure Republican votes to raise the debt limit.
The conference is likely to be bitterly divided, with senators refusing to accept a bill that raises the deficit and House members refusing to approve one that does not.
