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.
The U.S. federal budget deficit for fiscal year 2018 is  $440 billion. FY 2018 covers October 1, 2017 through September 30, 2018. The deficit occurs because the U.S. government spending of $4.094 trillion is higher than its revenue of $3.654 trillion.