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the sustainability of our commitment to growing entitlement programs. -- Paul Volcker, Former Chairman of the Federal Reserve Chairman of President Obama’s Economic Recovery Advisory Board Speech at Stanford University, May 18, 2010 KP a USA Inc. | High Level Thoughts 46 HOUSE_OVERSIGHT_020864 40-Ye
rmer Chairman of the Federal Reserve Chairman of President Obama’s Economic Recovery Advisory Board Speech at Stan
0 1995 Note: Housing includes purchase, rent and home improvement. Government savings occur when government runs a surplus. Ta Source: BEA, CMS via Haver Analytics. < kpcb.com USA Inc. | Summary CB www.kpcb.com USA Inc. xvii HOUSE_OVERSIGHT_020840 With these trends, USA Inc. will not be immune to the sudden c
ontractual interest rate of all the tranches. National Commission on Fiscal Responsibility and Reform - A bipartisan commission created by President Obama to address the nation's fiscal challenges. The Commission is charged with identifying policies to improve the fiscal situation in the medium term and
y and Reform - A bipartisan commission created by President Obama to address the nation's fiscal challenges. The Co
a TE - S Note: Housing includes purchase, rent and home improvement. Government savings occur when government runs a surplus. KP Source: BEA, CMS via Haver Analytics. (@E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 408 HOUSE_OVERSIGHT_021045 USA Income Taxes Higher, Consumption Taxes Lower
h data is available. 4. Edward Luce, “Goodbye to Barack Obama’s World,” Financial Times, November 27, 2016. 5. J
the future. Correlation 0.25 0.20 5 015 4 014 0.10 - 0.05 - 0.00 Since 1957 Since 1970 Data through 03 2016. Source: Investment Strategy Group, Haver Analytics, Olivier Blanchard, “Three Remarks About the US Treasury Yield Curve,” Peterson Institute for International Economics, June 22, 2016. We have examin
Page: HOUSE_OVERSIGHT_014547 →progress in dealing with important economic issues.** Shambaugh has outlined various measures, such as infrastructure spending proposed by President Obama in his fiscal year 2017 budget, that would positively impact productivity and labor force participation.’ The budget was not approved. Summers has si
Page: HOUSE_OVERSIGHT_014551 →ures, such as infrastructure spending proposed by President Obama in his fiscal year 2017 budget, that would positi
Page: HOUSE_OVERSIGHT_014551 →Entities connected to both Barack Obama and Haver Analytics

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