The U.S.government could reduce its budget deficit by

Question

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By raising the retirement age to receive Social Security benefits, the government can reduce its budget deficit as it would decrease the amount of money it has to pay out in benefits. This would also incentivize people to work for longer, increasing the tax revenue for the government. Borrowing funds from abroad (A), expanding income assistance programs (C), and decreasing means-testing for Medicare eligibility (E) would all increase government spending, thus increasing the budget deficit. Lowering income tax rates (D) would decrease government revenue, also increasing the budget deficit.

The U.S.government Could Reduce Its Budget Deficit by