They were one of the most popular comedy teams of the 1940's and 1950's.
(Today our Government is the comedy team.)
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COSTELLO: I want to talk about the unemployment rate in America .
ABBOTT: Good subject. Terrible times. It's about 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
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
who?
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 9%. 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 they're 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 an economist.
COSTELLO: I don't even know what the hell I just said!
And now you know why Obama's unemployment figures are improving!
