Choose the correct statement.
a The Regan Administration in the US increased the tax rate, and also increased the military spending. As a result, the fiscal deficits increased by roughly 3% of GDP.
b The Regan Administration in the US implemented the tax cut, and increased the military spending. As a result, the fiscal deficits increased by roughly 3% of GDP.
c The Regan Administration in the US implemented the tax cut, and increased the military spending. As a result, the fiscal deficits decreased by roughly 3% of GDP.