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Abbott and Costello explain the US Government's Accounting System.

Abbott and Costello explain the US Government's Accounting System.

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

ABBOTT: Good Subject. Terrible Times. It's 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.


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 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 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 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 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!

ABBOTT: Now you're thinking like a politician.

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Truth is funny

Even when the topic isn't funny.

I too say: BRILLIANT!


Stimulus Plan Explained by Abbott & Costello


"The Law" By:Frederic Bastiat

Hey thanks for spreading the book "The Law" by Frederic Bastiat! That is a GREAT book... EVERY Liberty Lover needs to read it...

Aleksandr Solzhenitsyn Said They Could Have Stopped Stalin Dead But “We did not love freedom enough”! How Can You Stop Tyranny?


Patrick Henry “I know of no way of judging of the future but by the past.” Does The Past Sound Familiar?



Why did Europeans come to settle in America?

There was no unemployment. Such a thing did not exist. Standing in line to be paid for no work was entirely a waste of time.

Why did they come?

Colonists came to America voluntarily for different reasons, but nearly all essentially came to improve their lives. Behind that self-evident fact, they sought economic advantage. A chance to become landowners. The decision to emigrate was also often spurred by conditions in England and Europe — during times of strife. Some emigrants were moderately prosperous, and saw the New World as an opportunity for investment that would allow them to move up a few notches on the economic scale. In general, however, the very well-to-do did not emigrate because they had everything to lose and could gain only at great risk.

The very poor did not come at first because they had little to offer— no money for passage. To obtain a contract as an indentured servant, one had to have something to offer — a skill.

In 1618 the Virginia Company instituted the “headright” system, which guaranteed that any person who immigrated into Virginia or paid for another person to settle in Virginia would receive fifty acres of land for each immigrant. The person entitled would get a certificate entitling him to a tract of 50 acres. People already settled in Virginia would get two headright grant, or 100 acres. The purpose of the headright system was to encourage immigration, a measure of how valuable labor was where land was cheap. (The United States government later used a similar policy to stimulate settlement of the West.)

Things began slowly. By 1620 maybe 2,500 colonists existed in all the English colonies in North America. A great migration of Puritans and others occurred from 1630 to 1642. Because of the need for labor to “develop” America, as mentioned above, vigorous recruiting methods were used — inmates of jails and poorhouses were loaded into the ships. The fundamental economic fact about America was the opposite of what existed in Europe: America was land rich and labor starved. http://www.academicamerican.com/colonial/topics/colonialintr...

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Precious. That was absolutely precious.

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~Your perception becomes your reality~

BMWJIM's picture

+1 for Truth


1976-1982 USMC, Having my hands in the soil keeps me from soiling my hands on useless politicians.