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Approaching 100% of GDP
document IMAGES-006-HOUSE_OVERSIGHT_021070.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Gross Debt Level = Approaching 100% of GDP USA Gross Federal Debt as % of GDP, 1940 — 2010 FIT wm — ee a = es me nn = i me Hs Ss 100% 80% 60% Debt Held By the Public Gross Debt As % of GDP 40% 20% 0% [ T T T T T T T 1940 1946 1952 1958 1964 1970 1976 1982 1988 1994 2000...

OOGE Fenn 2782 (Murch 2008)
document IMAGES-004-HOUSE_OVERSIGHT_016777.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…me The Donald J. Trump Revocable Trust Trump Family Members Ownership Title 1.88% Partner 1.84% Marmber Name TRUMP VINEWARD ESTATES MANAGER CORP DJT HOLDINGS LLC Ownership Title 1O0.00% Mamber Name TRUMP VINEWARD ESTATES LLC Name DIT Holdings Managing Member LLC Ownershi...

Created and Compiled by Mary Meeker
document IMAGES-006-HOUSE_OVERSIGHT_020825.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

About USA Inc. Created and Compiled by Mary Meeker February 2011 This report looks at the federal government as if it were a business, with the goal of informing the debate about our nation’s financial situation and outlook. In it, we examine USA Inc.’s income statement and bal...

COUR Fern 218s (larch: D014)
document IMAGES-004-HOUSE_OVERSIGHT_016757.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

COUR Fern 218s (larch: D014) Instructions for Part 2 | Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information, | Flers Naras Donald J. Trump i 100 THE TRUMP ENTREPRENEUR Managing Member...

OGE Fons 218s (Merch 2014)
document IMAGES-004-HOUSE_OVERSIGHT_016743.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

OGE Fons 218s (Merch 2014) Instructions for Part 2 Note: This is a public form. Do not include account numbers, street addresses, or family member names, See instructions for required information. ii 7 = ance = =e 2 : => ol i | 0.1 Development Member Inc, Mamber 99.9 DIT Holdi...

Cite as 349 F.Supp.2d 765 (S.D.N.Y. 2005)
document IMAGES-004-HOUSE_OVERSIGHT_017892.txt Sep 11, 2001 House Oversight Committee — Epstein Estate Records (Nov 2025)

IN RE TERRORIST ATTACKS ON SEPTEMBER 11, 2001 827 Cite as 349 F.Supp.2d 765 (S.D.N.Y. 2005) 10068(@MBM), 2003 WL 21664679, at *11 (S.D.N.Y. July 16, 2003) (quoting Moss v. Morgan Stanley, Inc., 719 F.2d 5, 17 2d Cir.1983)); see also 18 U.S.C. § 1962. “Civil RICO is an unusuall...

Millions of Americans have come to rely on Medicare and Medicaid — and spending has
document IMAGES-006-HOUSE_OVERSIGHT_020833.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Millions of Americans have come to rely on Medicare and Medicaid — and spending has skyrocketed, to 21% of USA Inc.’s total expenses (or $724B) in F2010, up from 5% forty years ago. Together, Medicaid and Medicare — the programs providing health insurance to low-income household...

e Total government spending on healthcare (including Medicare, Medicaid and
document IMAGES-006-HOUSE_OVERSIGHT_020895.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Think About That... e Total government spending on healthcare (including Medicare, Medicaid and other programs) has risen 7x from 1.2% of GDP in 1960 to 8.2% in 2009 while total government spending on education has risen only 0.6x from 4% of GDP in 1960 to 6% in 2009. e Medicar...

Drive Sustainable 1 = 1
document IMAGES-006-HOUSE_OVERSIGHT_021033.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Focus on Revenues Drive Sustainable 1 = 1 Economic Increase / Improve Employment Growth KP www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 383 Employment = Key to Growth in Federal Revenue & Expenses The deficit problem is exacerbated by the business cycle....

Drill Down on One-Time Charges
document IMAGES-006-HOUSE_OVERSIGHT_020932.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Drill Down on One-Time Charges Most of USA Inc.’s recent one-time charges are directly or indirectly related to America’s real estate bubble and aggressive borrowing. First we look at the drivers of the real estate bubble (we call it ‘anatomy of a real estate bubble’), then we...

Debt Composition: Foreign Investors & Governments
document IMAGES-006-HOUSE_OVERSIGHT_020927.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Debt Composition: Foreign Investors & Governments Hold ~46% of USA Inc. Public Debt 1989 Total Public Debt 2010 Total Public Debt Outstanding Outstanding $2 Trillion $9 Trillion u Foreign Investors & Government = Federal Reserve = Mutual Funds a State & Local Governments =...

Medicare: Complex Social Insurance Program
document IMAGES-006-HOUSE_OVERSIGHT_020892.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Medicare: Complex Social Insurance Program With Insufficient Funding e Social Insurance Program — Created in 1965 to provide health insurance to the elderly (65+). e Four Parts — A) Hospital Insurance (to cover inpatient expenses, introduced in 1965); B) Medical Insurance (opt...

Drive Growth: Education
document IMAGES-006-HOUSE_OVERSIGHT_021030.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Drive Growth: Education Better Education Improves General Labor Quality and Enables Specialization For More Efficiency KP www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 377 Education = High Long-Term ROI* Investment Each $1 of Government Spending Could Gener...

Citigroup Inc. (C)
document IMAGES-002-HOUSE_OVERSIGHT_014380.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Citigroup Inc. (C) We use a three-factor valuation framework (P/E, P/TBV, DCF} to arrive at our $60 PO, assigning a 0.9x multiple to 2017E TBV and 11x multiple on '17E blended NA and EM earnings. We have weighted the P/E and P/TBV factors equally at 40%, and our DCF analysis by...

Cullen/Frost Bankers Inc (CFR)
document IMAGES-002-HOUSE_OVERSIGHT_014381.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…nal growth rate of 3%. Downside risks to our price objective are a deterioration in credit quality in FCB's unseasoned newly originated loan portfolio, a downturn in the Florida economy, and continued competition for C&l loans. Upside risks are a better than expected improvement...