>    >   (email exchange) >    >   On Tue, May 4, 2010 at 10:24 AM, Scott wrote: >    >   Ugly chart. >    >   US total payroll employees haven’t grown since 1999 >    Yes, hangover from the surplus years. Deficits never have gotten high enough to restore demand/employment/output In the 1990’s private sector deficits (increasing private sector borrowings) did the heavy lifting. That proved unsustainable and govt has yet to make the necessary [...]