deficit vs liabilities

deficit and liabilities both are nouns.

Word	Noun	Adjective	Verb	Adverb
deficit	Yes	No	No	No
liabilities	Yes	No	No	No

As nouns, liabilities is a hypernym of deficit; that is, liabilities is a word with a broader meaning than deficit:

deficit: an excess of liabilities over assets (usually over a certain period)
liabilities: anything that is owed to someone else

deficit (noun)	liabilities (noun)
the property of being an amount by which something is less than expected or required	anything that is owed to someone else
an excess of liabilities over assets (usually over a certain period)
(sports) the score by which a team or individual is losing
a deficiency or failure in neurological or mental functioning