Obama; Unemployed or Out of Work

Abbott, Costello, Unemployed or Out of Work, Obama
COSTELLO: I want to talk about the unemployment rate in America

ABBOTT: Good Subject. Terrible Times. Its 7.8%.

COSTELLO: That many people are out of work?

ABBOTT: No, thats 16%.

COSTELLO: You just said 7.8%.

ABBOTT: 7.8% Unemployed.

COSTELLO: Right 7.8% out of work.

ABBOTT: No, thats 16%.

COSTELLO: Okay, so its 16% unemployed.

ABBOTT: No, thats 7.8%?

Is it 7.8% or 16%?

ABBOTT: 7.8% are unemployed. 16% are out of work.

COSTELLO: IF you are out of work you are unemployed.

ABBOTT: No, Obama said you cant count the Out of Work as the unemployed.
You have to look for work to be unemployed.


ABBOTT: No, you miss his point.

COSTELLO: What point?

ABBOTT: Someone who doesnt look for work, cant be counted with those who look for work. It wouldnt 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 gave up looking and if you give up, you are no longer in the ranks of the unemployed.

COSTELLO: So if youre off the unemployment roles, that would count as less unemployment?

ABBOTT: Unemployment would go down. Absolutely!

COSTELLO: The unemployment just goes down because you dont look for work?

ABBOTT: Absolutely it goes down. Thats how Obama gets it to 7.8%.
Otherwise it would be 16%. He doesnt want you to read about 16% unemployment.

COSTELLO: That would be tough on his reelection.

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 have Obama’s supporters stop looking for work.

ABBOTT: Now youre thinking like the Obama Economy Czar.

COSTELLO: I dont even know what the hell I just said!

ABBOTT: Now youre thinking like Obama.

Suggested Reading:
List of Obama Failures


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