Abbott & Costello Discuss USA Unemployment

[BigusDicus 9,831]

COSTELLO: I want to talk about the unemployment rate in America.

 

ABBOTT: Good Subject. Terrible Times. It’s 8%.

COSTELLO: That many people are out of work?

 

ABBOTT: No, that’s 16%.

COSTELLO: You just said 8%.

ABBOTT: 8% Unemployed.

COSTELLO: Right 8% out of work.

ABBOTT: No, that’s 16%.

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

ABBOTT: No, that’s 8%…

COSTELLO: WAIT A MINUTE. Is it 8% or 16%?

ABBOTT: 8% are unemployed. 16% are out of work.

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

ABBOTT: No, Obama said 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 his 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 gave up looking and if you give up, you are no longer in

the ranks of the unemployed.

COSTELLO: So if you’re off the unemployment rolls, 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 Obama gets it to 8%.

Otherwise it would be 16%. He doesn’t 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 you’re thinking like the Obama Economy Czar.

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

ABBOTT: Now you’re thinking like Obama.

[rumpole 4]

Whats new that how they worded out unemployment figure here in the UK, now it is based on those claiming unemployment benefits.

 

If anyone in the household works, no unemployment benefit.

Got a nest egg (savings) or property, no unemployment benefit.

Given up looking for work as there is no work, no unemployment benefit.

Over 55 and have a private pension, forced to retire, no unemployment benefit.

So officially we have 2.5Million unemployed, but in reality we have millions more who want to work but denied benefits and not counted, and 2.5million who do not want to work and claim benefits.

That does not count the millions who can only find part time work.

[tomcat76 327]

Here in the US I think the story is that millions have given up their unemployment compensation claims, and are filing for social security disability instead. Theoretically of course you have to actually BE disabled, but the system is so loose that it's practically a no-brainer. And so naturally, these frauds don't count toward the unemployment figure here either (gee, now who benefits from that?).

[rumpole 4]

Disability benefits, got ingrowing toe nails does that count?