THE U.S.: A NATION OF CONSUMERS THE CHANGING FACE OF THE ECONOMY $ TRILLIONS 1987 1997 2007 TOTAL U.S. GDP 4.7 8.3 13.8 CONSUMER SPENDING 3.1 5.8 10.1 CONSUMER AS % OF TOTAL GDP 66% 70% 73% DISPOSABLE PERSONAL INCOME 3.5 6.0 10.2 Source: Bureau of Economic Analysis.

Startups and the Economic Downturn - Page 23 Startups and the Economic Downturn Page 22 Page 24