OT: Abbot & Costello discuss unemployment

Bill · 2012-07-15T09:47:29+00:00

For those of you who don't know who Abbott and Costello were, too bad . . . . but don't worry about it.Abbott and Costello explain Obama's Accounting System.COSTELLO: I want to talk about the unemployment rate in America.ABBOTT: Good Subject. Terrible Times. It's 9%.COSTELLO: That many people are out of work?ABBOTT: No, that's 16%.COSTELLO: You just said 9%.ABBOTT: 9% Unemployed.COSTELLO: Right 9% out of work.ABBOTT: No, that's 16%.COSTELLO: Okay, so it's 16% unemployed.ABBOTT: No, that's 9%...COSTELLO: WAIT A MINUTE. Is it 9% or 16%?ABBOTT: 9% are unemployed. 16% are out of work.COSTELLO: IF you are out of work you are unemployed.ABBOTT: No, you can't count the "Out of Work" as the unemployed. You haveto look for work to be unemployed.COSTELLO: BUT THEY ARE OUT OF WORK!!!ABBOTT: No, you miss my point.COSTELLO: What point?ABBOTT: Someone who doesn't look for work, can't be counted with those wholook for work. It wouldn't be fair.COSTELLO: To whom?ABBOTT: The unemployed.COSTELLO: But they are ALL out of work.ABBOTT: No, the unemployed are actively looking for work. Those who areout of work stopped looking. They gave up. And, if you give up, you are nolonger in the ranks of the unemployed.COSTELLO: So if you're off the unemployment roles, that would count asless unemployment?ABBOTT: Unemployment would go down. Absolutely!COSTELLO: The unemployment just goes down because you don't look for work?ABBOTT: Absolutely it goes down. That's how you get to 9%. Otherwise itwould be 16%. You don't want to read about 16% unemployment, do ya?COSTELLO: That would be frightening.ABBOTT: Absolutely.COSTELLO: Wait, I got a question for you. That means there are two ways tobring down the unemployment number?ABBOTT: Two ways is correct.COSTELLO: Unemployment can go down if someone gets a job?ABBOTT: Correct.COSTELLO: And unemployment can also go down if you stop looking for a job?ABBOTT: Bingo.COSTELLO: So there are two ways to bring unemployment down, and the easierof the two is to...