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Response to struggle4progress (Original post)

Thu Nov 15, 2012, 09:28 PM

13. More than $11 billion of the $15.9 billion loss is caused by the prefunding mandate



http://www.washingtonpost.com/local/postal-service-reports-159billion-loss-but-record-high-worker-productivity/2012/11/15/18915930-2f64-11e2-a30e-5ca76eeec857_story_1.html

USPS Chief Financial Officer Joseph Corbett:

"It is only appropriate that Congress act to solve a postal financial crisis that legislators had a big hand in creating. More than $11 billion of the $15.9 billion loss, by far the biggest chunk, comes from required payments to pre-fund retiree health benefits. These payments are unique to the Postal Service, and they have nothing to do with mail delivery. USPS has defaulted twice on those payments since August. Without those payments, the net loss would have been $2.5 billion, not good, but more manageable.

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struggle4progress Nov 2012 OP
Dubster Nov 2012 #1
bloomington-lib Nov 2012 #2
freshwest Nov 2012 #3
high density Nov 2012 #4
SoCalMusicLover Nov 2012 #5
Skittles Nov 2012 #6
mac56 Nov 2012 #8
Owl Nov 2012 #15
Plucketeer Nov 2012 #9
csziggy Nov 2012 #22
earthside Nov 2012 #7
hack89 Nov 2012 #11
brentspeak Nov 2012 #12
hack89 Nov 2012 #14
brentspeak Nov 2012 #16
hack89 Nov 2012 #17
brentspeak Nov 2012 #18
hack89 Nov 2012 #19
brentspeak Nov 2012 #20
hack89 Nov 2012 #23
obxhead Nov 2012 #10
LineReply More than $11 billion of the $15.9 billion loss is caused by the prefunding mandate
brentspeak Nov 2012 #13
Dyedinthewoolliberal Nov 2012 #24
daleo Nov 2012 #21
Puzzledtraveller Nov 2012 #25
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