Abbott and Costello explain Uncle Sam’s Accounting System for Unemployment Statistics

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 I just said!

ABBOTT: Now you’re thinking like a politician!

Thomas Jefferson – an Amazing and Wise Man

Thomas Jefferson was a very remarkable man who started learning very early in life and never stopped.

At 5, began studying under his cousin’s tutor.

At 9, studied Latin, Greek and French.

At 14, studied classical literature and additional languages.

At 16, entered the College of William and Mary.

At 19, studied Law for 5 years starting under George Wythe.

At 23, started his own law practice.

At 25, was elected to the Virginia House of Burgesses.

At 31, wrote the widely circulated “Summary View of the Rights of British America and retired from his law practice.

At 32, was a Delegate to the Second Continental Congress.

At 33, wrote the Declaration of Independence.

At 33, took three years to revise Virginia’s legal code and wrote a Public Education bill and a statute for Religious Freedom.

At 36, was elected the second Governor of Virginia, succeeding Patrick Henry.

At 40, served in Congress for two years.

At 41, was the American minister to France , and negotiated commercial treaties with European nations along with Ben Franklin and John Adams.

At 46, served as the first Secretary of State under George Washington.

At 53, served as Vice President and was elected president of the American Philosophical Society.

At 55, drafted the Kentucky Resolutions, and became the active head of Republican Party.

At 57, was elected the third president of the United States .

At 60, obtained the Louisiana Purchase, doubling the nation’s size.

At 61, was elected to a second term as President.

At 65, retired to Monticello .

At 80, helped President Monroe shape the Monroe Doctrine.

At 81, almost single-handedly created the University of Virginia, and served as its first president.

At 83, died on the 50th anniversary of the Signing of the Declaration of Independence, along with John Adams.

Thomas Jefferson knew because he himself studied the previous failed attempts at government. He understood actual history, the nature of God, his laws and the nature of man. That happens to be way more than what most understand today. Jefferson really knew his stuff. A voice from the past to lead us in the future:

John F. Kennedy held a dinner in the white House for a group of the brightest minds in the nation at that time. He made this statement: “This is perhaps the assembly of the most intelligence ever to gather at one time in the White House with the exception of when Thomas Jefferson dined alone.”

“When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe.” — Thomas Jefferson

“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.”

–Thomas Jefferson

“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” — Thomas Jefferson

“My reading of history convinces me that most bad government results from too much government.” — Thomas Jefferson

“No free man shall ever be debarred the use of arms.” — Thomas Jefferson

“The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.”

— Thomas Jefferson

“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.” — Thomas Jefferson

“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.”

— Thomas Jefferson

Thomas Jefferson said in 1802:

“I believe that banking institutions are more dangerous to our liberties than standing armies.

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property – until their children wake-up homeless on the continent their fathers conquered.”

Benjamin Franklin Quotes

Benjamin Franklin

Any society that would give up a little liberty to gain a little security will deserve neither and lose both.

But, ah, think what you do when you run in debt: you give another power over your liberty.

Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote.

In free governments, the rulers are the servants, and the people their superiors and sovereigns

The Constitution only gives people the right to pursue happiness. You have to catch it yourself.

When the people find that they can vote themselves money, that will herald the end of the republic. Sell not liberty to purchase power.

Freedom is not a gift bestowed upon us by other men, but a right that belongs to us by the laws of God and nature.

I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it.