Understanding Obama-nomics

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 roles that would count as less unemployment?

Understanding Obama-nomics — Abbott and Costello style circa 2012.

Author unknown

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

ABBOTT: Good Subject. Terrible Times. It’s 8.1%.

COSTELLO: That many people are out of work?

ABBOTT: No, that’s 14.7%.

COSTELLO: You just said 8.1%.

ABBOTT: 8.1% Unemployed.

COSTELLO: Right 8.1% out of work.

ABBOTT: No, that’s 14.7%.

COSTELLO: Okay, so it’s 14.7% unemployed.

ABBOTT: No, that’s 8.1%.

COSTELLO: WAIT A MINUTE. Is it 8.1% or14.7%?

ABBOTT: 8.1% are unemployed. 14.7% 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 Continue reading “Understanding Obama-nomics”