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.

COSTELLO: BUT
THEY ARE OUT OF WORK!!!

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
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 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 heck I just said!

ABBOTT: Now you’re thinking like a politician.

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