When a current generation approves a government program that results in a deficit which is paid for through debt, Ricardian Equivalence states:    a.Deficit financing and pay-go financing are equivalent as subsidies internalize the debt burden to the current generation.   b.Deficit financing and pay-go financing are not equivalent as only taxes internalize the debt burden to the current generation.   c.Deficit financing and pay-go financing are equivalent as bequests internalize the debt burden to the current generation.

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