Which statement is true? (LO1 , 5 )

a) There is no overlap between the duties of local government and private businesses.

b) Medicare and Medicaid spending account for over 20 percent of the federal budget.

c) We spend as much on defense than do the rest of the world’s nations combined.

d) Although President Bush has cut the tax rates of the rich, they generally end up paying more taxes because they are willing to work more hours.