The Post Office Is Not Broke | The Nation
At the behest of the Republican-controlled Congress of the Bush-Cheney era, the USPS has been forced since 2006 to pre-fund future retiree health benefits. As the American Postal Workers Union notes, “This mandate is the primary cause of the agency’s financial crisis. No other government agency or private company bears this burden, which costs the USPS approximately $5.5 billion annually.”
Now, however, we learn that the pre-funding requirements have taken so much money from the USPS that—according to the postal service’s own inspector general—it has “significantly exceeded” the level of reserved money that the federal government or private corporations divert to meet future pension and retiree healthcare demands. “Using ratepayer funds, it has built a war chest of over $326 billion to address its future liabilities,” acknowledges Postal Service Inspector General David C. Williams
ISn't supposed to pay for itself huh?
You stupid little girl...
TITLE IV--PROVISIONS RELATING TO FAIR COMPETITION
SEC. 401. POSTAL SERVICE COMPETITIVE PRODUCTS FUND.
(a) Provisions Relating to Postal Service Competitive Products Fund
and Related Matters.--
(1) In general.--Chapter 20 of title 39, United States Code,
is amended by adding at the end the following:
``Sec. 2011. Provisions relating to competitive products
``(a)(1) In this subsection, the term `costs attributable' has the
meaning given such term by section 3631.
``(2) There is established in the Treasury of the United States a
revolving fund, to be called the Postal Service Competitive Products
Fund, which shall be available to the Postal Service without fiscal year
limitation for the payment of--
``(A) costs attributable to competitive products; and
``(B) all other costs incurred by the Postal Service, to the
extent allocable to competitive products.
``(b) There shall be deposited in the Competitive Products Fund,
subject to withdrawal by the Postal Service--
``(1) revenues from competitive products;
SHUT IT....You room temperature IQ pea brain