COSTELLO : I want to talk about the unemployment rate in America .
ABBOTT: Good Subject. Terrible Times. It’s 5.6%.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 23%.
COSTELLO: You just said 5.6%.
ABBOTT: 5.6% Unemployed.
COSTELLO: Right 5.6% out of work.
ABBOTT: No, that’s 23%.
COSTELLO: Okay, so it’s 23% unemployed.
ABBOTT: No, that’s 5.6%.
COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%?
ABBOTT: 5.6% are unemployed. 23% are out of work.
COSTELLO: If you are out of work you are unemployed.
ABBOTT: No, Congress 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 ALL of them are 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?
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 it gets to 5.6%. Otherwise it would be 23%.
ABBOTT: Good Subject. Terrible Times. It’s 5.6%.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 23%.
COSTELLO: You just said 5.6%.
ABBOTT: 5.6% Unemployed.
COSTELLO: Right 5.6% out of work.
ABBOTT: No, that’s 23%.
COSTELLO: Okay, so it’s 23% unemployed.
ABBOTT: No, that’s 5.6%.
COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%?
ABBOTT: 5.6% are unemployed. 23% are out of work.
COSTELLO: If you are out of work you are unemployed.
ABBOTT: No, Congress 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 ALL of them are 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?
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 it gets to 5.6%. Otherwise it would be 23%.
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 people stop looking for work.
ABBOTT: Now you’re thinking like an Economist.
COSTELLO: I don’t even know what the hell I just said!
ABBOTT: Now you’re thinking like a Politician.
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 people stop looking for work.
ABBOTT: Now you’re thinking like an Economist.
COSTELLO: I don’t even know what the hell I just said!
ABBOTT: Now you’re thinking like a Politician.
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5 comments:
A 23% unemployment rate would equal that of the Great Depression. Clearly, by any economic measure, that number doesn't hold up...
...yet Right Wingers continue to throw it around. Why? Because it allows them to believe that things haven't improved under President Obama.
It's hilarious because it involves intricate wordplay and ends along the famous classic line "Now you're thinking!"
To deplorable trolls like Mike Hawk, that is.
More situational outrage from the RW, and it generally follows their IOKIYAR worldview. These people constantly pivot from meme to meme when speaking of unemployment. Either:
- The unemployed are the unfortunate underclass who can't find a job due to "the economy"
- They're lazy moochers
So which is it?
The latter is what they're called during a republican administration.
Of course this is all a wash due to labor unfriendly "trickle down economics" and corporate friendly government of both major parties: The republicans since 19880, and the democratic party since the Clinton admin in the 1990s. Both have resulted in a system that seek to loosen labor markets ( to put downward pressure on wages ) and to act in the interests of the corporate donors ( transfer or wealth from bottom to top )
But the Right Wing Dad's of the world think supply-side/trickle-down works better when practiced by a republican ( Gawd & Guns, flags and eagles and shit, USA! USA! )
Gee, if only Obama could have enacted various job bills and an infrastructure-rebuild bill.
I wonder what blocked him?
Go figure, it was 7.8% and 14.7% when this was circulating a couple years back.
I think the old version used the "discouraged worker" measure, whereas this even less accurate one used some bullshit from Trump. This time they're counting everyone over the age of 16 who's not working for any reason, including (just to name the larger categories):
-Retirees
-College students
-High school students over the age of 16
-People with profound disabilities
-Stay-at-home mothers (and fathers)
-People in institutions
So unless you're prepared to give a kick in the ass to those slacker octogenarians, it doesn't really work.
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