Do you need to burn more than you eat to lose weight?

I'm confused on this topic...So heres my scenario. Im 16 years old 6 feet 210lbs...To lose 2lbs a week I need to eat 1500 calories a day(rather than 2500). I do exercise every day but theres no way I'm gonna be able to burn more than what my intake is.... So if I eat 1000-1200 calories less everyday, with burning about 250-300 calories a day(plus intense weight lifting 5 times a week), I should be still losing 2lbs a week, correct?