Congress won’t rescue postal service as it defaults on health care benefits

Discussion in 'Politics' started by Zxereus, Aug 1, 2012.

  1. Zxereus
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    Zxereus BANNED

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    Congress won’t rescue postal service as it defaults on health care benefits


    Congress won
     
  2. Moonglow
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    Moonglow Diamond Member

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    Who spent the retirement monies?
     
  3. uscitizen
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    uscitizen Senior Member

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    Actually the postal service has one of the best funded pension systems in the entire goverment.
     
  4. Listening
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    Listening Gold Member

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    So the quote in the OP was a lie ?
     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    Post office goin' the way of the buggy whip?...
    :eusa_eh:
    Postal Chief: Delayed Service Cuts Threaten Iconic Institution
    February 08, 2013 - The head of the U.S. Postal Service has dismissed union calls for his removal, saying his controversial plan to reduce Saturday mail service is necessary to prevent one of America’s oldest institutions from suffering the same demise as other iconic industries.

     
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    waltky Wise ol' monkey Supporting Member

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    Granny gonna order a bullet-proof postal bra...
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    Cash-strapped Postal Service to launch new clothing line
    February 20, 2013 : On the heels of announcing the end of Saturday mail delivery, the U.S. Postal Service said Tuesday it plans to launch a new line of clothing and accessories next year.
     
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    A Manufactured 'Crisis': Congress Can Let The Post Office Save Itself Without Mass Layoffs Or Service Reductions | ThinkProgress

    But what has been lost in the political debate over the Post Office is why it is losing this money. Major media coverage points to the rise of email or Internet services and the inefficiency of the post model as the major culprits. While these factors may cause some fiscal pain, almost all of the postal service’s losses over the last four years can be traced back to a single, artificial restriction forced onto the Post Office by the Republican-led Congress in 2006.

    At the very end of that year, Congress passed the Postal Accountability and Enhancement Act of 2006 (PAEA). Under PAEA, USPS was forced to “prefund its future health care benefit payments to retirees for the next 75 years in an astonishing ten-year time span” — meaning that it had to put aside billions of dollars to pay for the health benefits of employees it hasn’t even hired yet, something “that no other government or private corporation is required to do.”

    As consumer advocate Ralph Nader noted, if PAEA was never enacted, USPS would actually be facing a $1.5 billion surplus today:
     

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