...But it was two events: one crafted during the Bush years and another supervised by House Oversight Committee Chairman Darrell Issa, that would cripple this once great institution.
Perhaps it was its booming history that first drew Congress' attention to the Postal Service in 2006 when it passed the Postal Accountability Enhancement Act (PAEA), which mandated that the Postal Service would have to fully fund retiree health benefits for future retirees. That's right. Congress was demanding universal health care coverage.
It was an impossible order, and strangely, a task unshared by any other government service, agency, corporation or organization within the United States. The act meant that every September 30th, the USPS had to cough up $5.5 billion to the Treasury for the pre-funding of future retirees' health benefits, meaning the Postal Service pays for employees 75 years into the future. The USPS is funding the retirement packages of people who haven't even been born yet...
People who want to take action to save the USPS can support this bill by a Democrat by calling representatives, and not giving up:
H.R. 1351, the United States Postal Service Pension Obligation Recalculation and Restoration Act of 2011, is a piece of legislation sponsored by Massachusetts Congressman Stephen Lynch. The act calls for the Office of Personal Management to do the definitive audit, come up with the actual figure of overpayment and then apply that to the ridiculous system of prepayment funding expenses. The Postal Service would then have that $5.5 billion a year to use for running its services and improving mail delivery.
http://truth-out.org/news/item/3190-postal-workers-the-last-union?tmpl=component&print=1
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