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.
We are living with a legacy of deficit spending that began almost a decade ago. But once Obama took over, the GOP decided that deficit spending was bad and centrist Democrats agreed. But a focus on deficit spending distracts from efforts to address the long-brewing entitlement problem. And we are still heading for another record trillion dollars in deficit spending this year.