No, deficit irrigation doesn't refer to balancing the national budget. Instead, it is a method used by growers to increase the amount of sugar in foods such as tomatoes, pomegranates, and peaches.
When the water supply is significantly reduced, there is more sugar in each fruit than is found in plants watered consistently through harvest. In fact, all the compounds that create flavor are enhanced. It's a simple matter of dilution!
The downside of deficit irrigation is the risk of stunted growth and smaller fruit. In the case of backyard tomatoes, it's a good idea to significantly reduce watering as the fruit begins to turn red. This way, the size is already reached and flavor is in full production.
Deficit irrigation also helps conserve precious water resources!
I hope this information inspires you to grow more of your own food. You can ask your garden questions on my Home page.