Postal bailout by taxpayers looms near

Discussion in 'Current Events' started by DKSuddeth, Mar 24, 2004.

  1. DKSuddeth

    DKSuddeth Senior Member

    Oct 20, 2003
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    North Texas

    Postal Service Finances Bleak
    Agency Is Counting on Congress to Deliver Major Change
    By Christopher Lee
    Washington Post Staff Writer
    Tuesday, March 23, 2004; Page A17

    There is trouble at the post office.

    The U.S. Postal Service's financial outlook is bleak and getting bleaker, according to members of Congress, a presidential commission, the General Accounting Office and postal officials themselves. It is bad enough that some federal officials are warning of a huge taxpayer bailout -- or dramatic increases in postal rates -- if Congress does not reorganize the $67 billion-a-year entity soon to help it operate more efficiently.

    "[T]he Postal Service as an institution probably cannot survive without fundamental reform," Sen. Susan Collins (R-Maine), chairman of the Senate Governmental Affairs Committee, said at a Capitol Hill hearing this month.

    A nine-member presidential commission that spent seven months last year studying the future of the Postal Service sounded a similar alarm. The panel concluded in a 181-page report that the institution is in "significant jeopardy" and may not be able to continue delivering mail to every address six days a week.

    Didn't this moron in charge of the postal service publish some sparkling report in the last year about how he was the first one to report a PROFIT in the postal service in the last 15 years or so?

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