# Profoundd archive — Epstein Files
# Bates number: EFTA02674582
# Title:        ,..44MONEY MORNING
# Dataset:      11
# Pages:        5
# Images:       5 detected
# Tags:         epstein, doj, dataset-11, image-described
# Source PDF:   https://profoundd.com/epstein-docs/EFTA02674582/download
# Doc viewer:   https://profoundd.com/epstein-docs/EFTA02674582
#
# Text below is what Profoundd has extracted from the source PDF.
# 'ocr-enriched' tag means OCR was applied to scan-only pages.
# Image descriptions are AI-generated factual captions (llava:13b).
#----------------------------------------------------------------------

=== SUMMARY ===
,..44MONEY MORNING April 29,2013 Myths and Realities About the U.S. Economy By BEN GERSTEN When it comes to the U.S. economy, myths and misleading statistics abound. Are taxes the highest they've ever been? Is the country's spending at record levels? Are the majority of products U.S. consumers buy produced by low-wage workers overseas? The answer often depends on the spin. But this Bureau of Economic Analysis presentation on myths and misperceptions about the U.S. economy gives investors a sense


=== EXTRACTED TEXT ===
,..44MONEY MORNING 
April 29,2013 
Myths and Realities About the U.S. Economy 
By BEN GERSTEN 
When it comes to the U.S. economy, myths and misleading statistics abound. 
Are taxes the highest they've ever been? Is the country's spending at record levels? Are the majority 
of products U.S. consumers buy produced by low-wage workers overseas? 
The answer often depends on the spin. 
But this Bureau of Economic Analysis presentation on myths and misperceptions about the U.S. 
economy gives investors a sense of what's real and what's the twisted truth. 
7 Myths About the U.S. Economy 
Are Federal Taxes at a Record High? 
25% 
20% 
15% 
10% 
5% Total federal taxes as a share of GDP* 
A : 12.1% 
Personal income taxes as a share of Personal Income 
<9 es es es es es es <9 es is 1st_ 
1-est, tia, ett" <4.
ttt al> di> ti tt tIS -St -94' arii 441 co> ‘As f, 
'Major components include personal payroll and income taxes, and 
corporate taxes 2 PSVA. 
Even though Americans paid a record $2.7 trillion in federal taxes in 2012, as a percentage of the 
economy, that amounted to 16%, below the long-term average. 
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Is Federal Debt at a Record High? Pone% el OOP 
1w 
cro 
ao 
60 Federal Debt Held by Public/Total U.S. Assets (2011): S. 2% 
0 
1340 1%1 11,411 1952 11% 1%0 1%4 1%3 19,1 114 19(10 1M 1%2 19% 1100 1COS 2001 2013 
142 BEA 16,cr ILOtot fio.• 4 
The amount of overall debt in our country continues to reach new highs every week - but it's not at 
its highest level in relation to GDP. As of April 2, debt held by the public was roughly $11.96 trillion, 
or 75% of GDP. But federal debt held by the public as a percentage of GDP was higher in the 1940s. 
Is Federal Spending at a Record High? Share of GDP 
30% 
25% 
20% 
15% 
10% 
5% Total federal spending, including transfer payment? 
‘r...••••••••6. —/6e."'-Federal defense & nondefense spending 
Defense 
Nondefense 0% 
4f 4P 40. 4P 4, 4P 4f 44. 4f 4P ." 4IP 40 4r 401 49 or 4, 4r 4,
• FoCiadoo <tome. OW is t.% expee4Mutel. van*, pryw4nt to penontaM fint of *COW, ram 
to tint cal goanweali, wive, 116%66%. 66.1 WOOPONYI 
1O,te le • Pa BEA 
While non-defense and defense spending are in a downward trend over the past 40 years, total 
federal spending as a percentage of GDP is just off its 2010 peak. 
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lin International 
dollies] 
sw.aio 
$S0.000 
S40.O i( 
$1d.«, 
5I0JKn 
$10.“ 
$0 Is the U.S. Still the World's Leading 
Economy? 
• Untied an.1114 united Parton turn Area ( hula 
Stain temed.)..1 
PPP-Adjusted GDP Per Capita, 2011 
Ver.:ON VOetlev ..."S•0,11.10 .cen AVMS lesina ash's. It pisvA 
Yes. Americans contribute an average of almost 550,000 to the country's GDP. That's higher than 
the average contribution to GDP of any other nation. 
Do Foreigners Own America? 
Tr iOnt of So I VI 
n 
Gorey-amid 
assets in the 
U S. 
a:... N. U.S •0wneti 
assets abroad s ft x or u.S. 
Net worth 
■ 
Net assets 
owned by all 
foreigners % of U.S. 
Net Worth 
Chinese...0wned U.S -anted Net assets 
assets In the assets In China owned by 
U.S. China 
11 
Not as much as some would think. In fact no country, not even China owns more than 2.5% of U.S. 
assets. 
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Have U.S. Companies Offshored Their 
Production to Low-Wage Countries? 
Location of production of goods and 
services by U.S. Multinational Companies 
Worldwide 
■ United States 
8% 
21% 
4 ■ High wage•
foreign countries 
■ Medium wage• 
foreign countries 
■ Low wage• foreign 
countries 
e Wage levels are based on World Sank categories of per capita income. 
BIBEA 9 
The idea that the majority of products U.S. consumers buy are made by poorly paid workers is 
simply false. In fact, only 1% of the goods produced and services offered by U.S. multinational 
companies come from low-wage countries. 
Rising or Stagnant Wages? 
Aver .4K COW t h 'Ate 
40 
3.5 
3.0 
2.5 
20 
101.5
0.5 
00 29 
2000-2007 2007.2009 200920/1 
■ Real compensation per worker • Real wages per worker 
• Real supplements per worker 
6 1.1 
BEA 
Wages are growing, but barely. Since the recession, wages have grown at half the rate they did from 
2000-2007. 
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=== IMAGE DESCRIPTIONS ===
[Image 1] The image is a scanned document, specifically a newspaper article. The article is titled "Money Morning" and is dated April 2011. The headline of the article reads "7 Myths and Realities About the U.S. Economy." The article discusses various aspects of the U.S. economy, including federal taxes, the stock market, and the economy's overall health.

The document contains a graph that illustrates the 

[Image 2] The image appears to be a page from a document or report, specifically focusing on two questions related to federal debt and spending. The page contains two graphs and accompanying text.

The first graph, titled "Is Federal Debt at Record High?" shows a line graph with a downward trend, indicating that the federal debt has decreased over time. The graph includes a vertical axis labeled "Federal De

[Image 3] The image is a scanned document with text and graphs. The document appears to be an informational piece discussing the offshoring of U.S. companies' production to low-wage countries. The title of the document is "HAVE U.S. COMPANIES OFFSHORED THEIR PRODUCTION TO LOW-WAGE COUNTRIES?"

The document includes a pie chart with percentages indicating the distribution of U.S. manufacturing employment by 

[Image 4] The image shows a page from a document or report, which appears to be related to economic statistics. The page contains two main sections with charts and text.

The first section is titled "IS THE U.S. STILL THE WORLD'S LEADING ECONOMY?" and includes a bar chart comparing the U.S. GDP to the GDP of other countries. The chart shows the U.S. GDP as the highest among the listed countries, which inclu

[Image 5] The image appears to be a document scan, possibly a letter or a report, with a header that includes the word "REPORT" and a page number "1". The document is structured with numbered paragraphs, and there are visible names, dates, and a logo or emblem at the top right corner. The text is too small to read in detail, but it seems to be a formal document with a structured layout.