Where more of something (usually money) has been spent than earned.
Fact of the Day
A rhinoceros kept as an exotic 'pet' during the Enlightenment was given three bottles of wine a day
Quote of the Day
"A grain, which in England is generally given to horses, but in Scotland supports the people. "
~ Samuel Johnson's dictionary definition for 'oats'
On This Day
1016 Cnut defeated Edmund Ironside at the Battle of Assandun, forcing Edmund to make a peace with the invading Danes: he got to keep Wessex, but the rest of England came under Danish rule. A month later, he had died of 'natural causes' so Wessex, too, went to Cnut.
1216 King John died of dysentery. He was succeeded by his nine year old son, Henry III.
1867 The US officially took possession of Alaska. It wasn't a popular decision at the time.
1922 The BBC was founded.