Wed Sep 26, 2012, 03:36 PM

Roland99 (36,510 posts)

USPS Bailout Imminent: Postal Service Will Miss September 30 'Mandated' Payment

Last edited Wed Sep 26, 2012, 03:37 PM USA/ET - Edit history (1)

Source: Bloomberg (via ZeroHedge.com)

Color us unsurprised by this litte gem (via Bloomberg):

*POSTAL SERVICE SAYS IT WON'T MAKE MANDATED PAYMENT ON SEPT. 30
*POSTAL SERVICE COMMENTS ON HEALTH BENEFITS PAYMENT IN E-MAIL
*U.S. POSTAL SERVICE SAYS OPERATIONS WON'T BE AFFECTED

Miss a payment here, miss a payment there; never mind. It would appear that everyone wants to be bailed out before the election so they can pledge votes for taxpayer cash

Mandates given USPS unrealistic
http://www.columbian.com/news/2012/aug/30/letter-mandates-given-usps-unrealistic/

There's red ink, but it has little to do with mail volume, email or other mail-related factors.

Here are some easily verifiable facts: An efficient USPS has done well financially delivering the mail, despite a poor economy -- and without a dime of taxpayer money for 30 years. Fiscal 2012's first quarter, for example, saw a $200 million operational profit.

Rather, 83 percent of all the red ink results from an external political factor -- the 2006 congressional mandate that the Postal Service do something no other agency or company has to do -- prefund future retiree health benefits. Worse, it must prefund 75 years into the future.

This unrealistic mandate is leading the USPS off the fiscal cliff. If Congress fixes the mess it created, your readers and their businesses could continue to receive the world's most affordable delivery services, six days a week.

13 replies, 1813 views

Reply to this thread

Always highlight: 10 newest replies | Replies posted after I mark a forum

Replies to this discussion thread

13 replies	Author	Time	Post
USPS Bailout Imminent: Postal Service Will Miss September 30 'Mandated' Payment (Original post)	Roland99	Sep 2012	OP
This means nothing, really.	Pab Sungenis	Sep 2012	#1
'Bailout' not necessary, just AMEND THE LAW, delete the $ retirement/health requirements!	elleng	Sep 2012	#2
And clean up Congress!	freshwest	Sep 2012	#3
YES, fresh!	elleng	Sep 2012	#4
Vote By Mail	saidsimplesimon	Sep 2012	#5
good idea...do`t make the payment	madrchsod	Sep 2012	#6
Fucking Republicans - give back the 5 billion dollars you slime took from the Postal Service	LaPera	Sep 2012	#7
It was a bipartisan bill co-sponsored by Democrats	hack89	Sep 2012	#9
Congressional Democrats - spineless	Roland99	Sep 2012	#10
If we get control then they go next.	glinda	Sep 2012	#12
A banking account you can take with you to any U.S. location!	Trillo	Sep 2012	#8
The USPS doesn't need a bail out. It needs	dmrtndl1	Sep 2012	#11
2006 Rethug ticking time bomb - an artificial crises to take something that works and break it.	Tigress DEM	Sep 2012	#13

Response to Roland99 (Original post)

Wed Sep 26, 2012, 03:39 PM

Pab Sungenis (8,928 posts)

1. This means nothing, really.

The GOP Congress and Bush passed a bill as a final "fuck you" to the USPS during the 2006 lame duck session. That bill forces the USPS to fund retirement pensions for a generation of Postal Workers who haven't even been born yet.

Hopefully, if we get a Democratic House next year, we'll be able to fix this.

Reply to this post

Response to Roland99 (Original post)

Wed Sep 26, 2012, 03:39 PM

elleng (40,548 posts)

2. 'Bailout' not necessary, just AMEND THE LAW, delete the $ retirement/health requirements!

Reply to this post

Response to elleng (Reply #2)

Wed Sep 26, 2012, 03:49 PM

freshwest (31,524 posts)

3. And clean up Congress!

Reply to this post

Response to freshwest (Reply #3)

Wed Sep 26, 2012, 03:55 PM

elleng (40,548 posts)

4. YES, fresh!

CONTRIBUTE:

This link goes directly to Wayne Powell’s campaign site, but has a tracker so any contributions that go to it are contributed to DU! 100% of the donations go to the campaign. No third party interference.
http://services.myngp.com/ngponlineservices/contribution.aspx?X=nnH5UqlGXVdFqwQYSNfMTv5XA6vMNUWV
http://www.robzerban.com/
http://congressmanwithguts.com/
http://www.tammyduckworth.com/
http://www.delaney2012.com/
http://www.gillanforcongress.com/
http://jimgraves.com/

http://elizabethwarren.com/splash-pages/learnmoretoday?utm_expid=49474463-0

Reply to this post

Response to Roland99 (Original post)

Wed Sep 26, 2012, 04:15 PM

saidsimplesimon (127 posts)

5. Vote By Mail

How convenient, during an election cycle, to attack the messenger delivering all those votes for President Obama?

Reply to this post

Response to Roland99 (Original post)

Wed Sep 26, 2012, 05:30 PM

madrchsod (55,741 posts)

6. good idea...do`t make the payment

no one will do anything

the mail will be delivered tomorrow ,the next day,and the day after that.

Reply to this post

Response to Roland99 (Original post)

Wed Sep 26, 2012, 05:33 PM

LaPera (6,455 posts)

7. Fucking Republicans - give back the 5 billion dollars you slime took from the Postal Service

Last edited Wed Sep 26, 2012, 05:34 PM USA/ET - Edit history (1)

when the outgoing republican majority Jan 2007 did this on purpose to cut & gut to destroy the post office and like the republican cut & gut education, then point to it and say "see it isn't working" Let's privatize it for the corporations who will cut corners, over charge, no customer service while colluding and receiving government subsidies - _ pitiful disgusting fucking republicans!!

Reply to this post

Response to LaPera (Reply #7)

Wed Sep 26, 2012, 08:10 PM

hack89 (21,287 posts)

9. It was a bipartisan bill co-sponsored by Democrats

it had broad support by both parties in both the House and Senate.

Reply to this post

Response to hack89 (Reply #9)

Wed Sep 26, 2012, 08:13 PM

Roland99 (36,510 posts)

10. Congressional Democrats - spineless

Reply to this post

Response to Roland99 (Reply #10)

Wed Sep 26, 2012, 10:53 PM

glinda (12,085 posts)

12. If we get control then they go next.

Reply to this post

Response to Roland99 (Original post)

Wed Sep 26, 2012, 07:17 PM

Trillo (7,230 posts)

8. A banking account you can take with you to any U.S. location!

Personally, I like the idea of USPS banking. Just a basic account, a place where any citizen can legally receive and send e-credits and debits, a debit card for purchasing groceries, yada yada.

Seems like that would *up USPS's coffers* a bit, an expansion of their services, and thus, their bottom line.

Reply to this post

Response to Roland99 (Original post)

Wed Sep 26, 2012, 09:21 PM

dmrtndl1 (17 posts)

11. The USPS doesn't need a bail out. It needs

Congress to stop passing laws that make the deficit to appear lowered. Until the USPS makes the payment for future health care for retirees it is not apart of the Treasury monies, but once payment made the deficit magically shrinks. That may have worked when everyone used the postal service, but since the bust the income is down thus no money generated to pay the huge payment. Secondly, no other government agency or private corporation besides the USPS is being required to prefund future retiree health care 75 years in advance. Congress raided the USPS just like they did Social Security.

Reply to this post

Response to Roland99 (Original post)

Thu Sep 27, 2012, 03:38 AM

Tigress DEM (7,167 posts)

13. 2006 Rethug ticking time bomb - an artificial crises to take something that works and break it.

Reply to this post

Latest Breaking News (Forum)