Epstein Secrets

60% ceiling AX 50% =e Debt limit to 3x 40% gov. receipts 30% —> 2x 20% 1x 1950 1956 1962 1968 1974 1980 1986 1992 1998 2004 2010 Source: OMB, BEA, J.P. Morgan Private Bank. Over the last few days, the Gang of Six plan, the Reid-McConnell plan and the Obama-Boehner plan have all been raised up the flagpole and then lowe

explain how they get to the President’s baseline in the first place. 1 HOUSE_OVERSIGHT_025221 --- PAGE BREAK --- Eye on the Market | July 25, 2011 J.P Morgan Topics: US debt ceiling negotiations, a more ambitious European bailout plan (finally), and how large cap growth stocks and rising corporate profits

~° High earners Fiscal years 1970-2010 18.0% 20.8% 20% Estimates for 2035: 1% CBO alternative case I@e 33.98 10% Median American Enterprise earners Bipartisan Policy Center 5% Center for Am. Progress 0% Economic Policy Institute Heritage Foundation -5% Low earners Roosevelt Institute j } oy 1955 1960 1965 1970 1975 19

Industrial production Index, 100 = January 2007 110 105 100 95 90 85 80 15 2007 2009 2010 2011 Source: INE, CSO, ISTAT, NSS, Eurostat, Bundesbank, J.P. Morgan Securities LLC, J.P. Morgan Private Bank. Periphery = Portugal, Ireland, Italy, Greece, Spain. 2008 * The current EFSF lending capacity is Eur 255 b

rces: Office of Tianagement ant Budget, Congressional Pudget Office, Committee for a Resyons 161efecferaf Stscifet, Joint Committee on l'axation,11 Morgan Private Bank. EFTA00617493 Eye on the Market IP Morgan more work to do. As proposed by both Boehner and Reid plans, after agreement on $1-$I.5 trillion in sp

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+Federal Salaries+ Benefits +IRS Refunds +Foodnitrition Services+ TANF +Education Department 4-Housing and Urban., +Other Spendiig Source: Bipartisan Policy Center and BridgewaterAssociates Estimates. EFTA00617495

raising the debt ceiling YS , , + . + . 1950 1956 1962 1968 1974 1980 1986 1992 1998 2004 2010 Debt limit to gov. receipts nd Source: OMB, BEA, J.P. Morgan Private Bank Over the last few days, the Gang of Six plan, the Reid-McConnell plan and the Obama-Boehner plan have all been raised up the flagpole and then lower

9 17.5% 18.1% High earners Fiscal years 1970-2010 18.0%. 20.8% 70% Estimates for 2035: ah CBO alternative case 10% Median American Enterprise earners Bipartisan Policy Center 5% Center for Am, Progress o% Economic Policy Institute Heritage Foundation Roosevelt Institute Source: OME, CHO, Peterson Foundation 2097 Fiscal Su

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