Choose the best answer to each of the following questions. Explain your reasoning with one or more complete sentences.
By the year 2030, the government is expected to owe several hundred billion dollars more in Social Security benefits each year than it will collect in Social Security taxes. Although all options for covering this shortfall might be politically difficult, which of the following is not an option even in principle?
a. The shortfall could be covered by tax increases.
b. The shortfall could be covered by additional borrowing from the public.
c. The shortfall could be covered by reducing the spending on education grants.
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