The deficit – true or false

No one tells me what the deficit is made up of. There is constant talk about “The Deficit” but what part does the 58 planes ordered play in the deficit and projected deficit? What part does the cost of maintaining ex-MPs etc. play in the deficit? What part does lurks and perks for MPs play in the deficit?
Am I right that if you have a mortgage then you are in deficit but this matters only when your liabilities are more than your assets.
Tell me please.

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