Generally speaking, you do not need to keep the following in a safe deposit box: income tax returns, education records, employment records, bankbooks, social security cards, guarantees, and burial instructions. Keeping Tax Records. But you don't have to keep everything for tax purposes.
Definition of Deficit and Debt. 1  Deficit relies to the annual borrowing requirement of the government. 2  Debt related to the total level of public sector debt built over previous years. 3  In 2010/11 UK public sector deficit is forecast to be around Â£149bn of or 12% of GDP.
One trend is easy to identify: China is spending more and more, although the pace of growth has slowed in recent years. China still falls well behind the United States in overall spending -- at $2.2 trillion compared to around $3.5 trillion for Washington. And the U.S. runs a much larger budget deficit.China's estimated deficit for 2013 is 1.2 trillion yuan, or $198 billion at current exchange rates.That's equal to 2% of GDP.Although significantly higher than previous years, China's deficit is under control.nd the U.S. runs a much larger budget deficit. China's estimated deficit for 2013 is 1.2 trillion yuan, or $198 billion at current exchange rates. That's equal to 2% of GDP.