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Thursday, August 23, 2012

Abbott and Costello.....

*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 8.4%.

COSTELLO:  That many people are out of work?

ABBOTT:  No, that's 16%.

COSTELLO:  You just said 8.4%.

ABBOTT:  8.4% Unemployed.

COSTELLO:  Right 8.4% out of work.

ABBOTT:  No, that's 16%.

COSTELLO:  Okay, so it's 16% unemployed.

ABBOTT:  No, that's 8.4%...

COSTELLO:  WAIT A MINUTE. Is it 8.4% or 16%?

ABBOTT:  8.4% 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
have to 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 who
look 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 are
out of work stopped looking.  They gave up.  And, if you give up, you are
no longer in the ranks of the unemployed.

COSTELLO:  So if you're off the unemployment roles, that would count as
less 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 8.4%. Otherwise it
would 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 to
bring 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 easier
of the two is to just stop looking for work.

ABBOTT:  Now you're thinking like a democrat economist.

COSTELLO:  I don't even know what the hell I just said!

ABBOTT: Now you're thinking like a liberal politician.



H/T to Murray

3 comments:

  1. NOW I FINALLY UNDERSTAND IT!!! MAYBE, WE NEED ABBOTT OR COSTELLO FOR PRESIDENT.

    ReplyDelete
  2. I have to recommend a short Kindle novel called "The Hunted" by Dave Zeltserman. There are ways to get the unemployment figures down ...

    ReplyDelete

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