Fiscal Policy - End of Chapter Problem How did or would the following affect the current public debt and implicit liabilities of the U.S. government? a. In 2003, Congress passed and President George W. Bush signed the Medicare Modernization Act, which provides seniors and individuals with disabilities with a prescription drug benefit. Some of the benefits under this law took effect immediately, but other benefits will not begin until sometime in the future. The result is that both the current public debt and the implicit liabilities b. The age at which retired persons can receive full Social Security benefits is raised to age 70 for future retirees. The current public debt will due to this and implicit liabilities will c. Social Security benefits for future retirees are limited to those with low incomes. The current public debt will due to this and implicit liabilities will d. Because the cost of health care is increasing faster than the overall inflation rate, annual increases in Social Security benefits are increased by the annual increase in health care costs rather than the overall inflation rate. Both implicit liabilities and current public debt will due to this change. e. The Affordable Care Act (ACA), which went into effect in 2014 , created incentives for hospitals to find ways to save the government money. Both implicit liabilities and current public debt due to the ACA