Issa: USPS has 'more than a small cash flow problem' - The Hill's Video "They have gone the wrong way they have gone from having no debt to having $15 billion in debt, which was their debt limit. ... That tells us, as a businessman, that no matter what they say, they have more than a small cash flow problem," Issa said Monday on MSNBC's "Morning Joe." In 2006 in a Lame Duck session the Republican Congress passed a bill that forced the Post Office to pre-fund future health care benefits for its present and future employees. The amount to be pre-funded? 75 billion dollars and they had to do it in 10-years. Again, this includes setting aside money for employees not hired yet. Now some are screaming "Crisis!" when the "crisis" was created by a Republican Congress. Save the 5.5 billion the Post Office has to hand over to the government the Post Office would be solvent and at least breaking even. Republican Issa's solution? Fire thousands of postal employees. Seems that's always the GOP's answer: Fire people. ModelMayhem.com - Privatize the Post Office? By June 2011, the USPS saw a total net deficit of $19.5 billion, $12.7 billion of which was borrowed money from Treasury (leaving just $2.3 billion left until the USPS hits its statutory borrowing limit of $15 billion). This $19.5 billion deficit almost exactly matches the $20.95 billion the USPS made in prepayments to the fund for future retiree health care benefits by June 2011. If the prepayments required under PAEA were never enacted into law, the USPS would not have a net deficiency of nearly $20 billion, but instead be in the black by at least $1.5 billion. A Manufactured Crisis: Congress Can Let The Post Office Save Itself Without Mass Layoffs Or Service Reductions | ThinkProgress ------------------------------ Why do Republicans want to end the post office? Some states, like Oregon and Washington, mail in their votes. What would they use? UPS that gives nearly 70% to Republicans? This is about more voter suppression. Republicans are in it for power and for the rich. They will cause even more riots where ever their ruinous policies take effect. Come on USMB right wingers. Defend this. Show us how it's done.