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Postal Service Default: Postmaster General Pleads For Congressional Action As Bankruptcy Looms

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Postal Service Default: Postmaster General Pleads For Congressional Action As Bankruptcy Looms

Post by gigichicago on Tue Sep 06, 2011 5:50 pm

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Re: Postal Service Default: Postmaster General Pleads For Congressional Action As Bankruptcy Looms

Post by gigichicago on Tue Sep 06, 2011 6:00 pm

And Now The U.S. Postal Service Is About To Go Belly Up…

http://finance.yahoo.com/blogs/daily-ticker/now-u-postal-belly-153600714.html
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Re: Postal Service Default: Postmaster General Pleads For Congressional Action As Bankruptcy Looms

Post by sbraney on Thu Sep 08, 2011 8:06 am

How to Privatize the Post Office - please spread this around to your friends - Amerikans are fed so much propaganda it's pathetic. Stop using corporate press for your "news."

As usual, the corporate press hasn't told the truth - surprise, surprise - regarding the real reason why the USPS is in financial trouble. At a Congressional hearing, NALC President Fredric Rolando laid out the real root of the problem: "The problem lies elsewhere: the
2006 congressional mandate that the USPS pre-fund future retiree health
benefits for the next 75 years, and do so within a decade, an obligation no
other public agency or private firm faces. The roughly $5.5 billion annual
payments since 2007 — $21 billion total — are the difference between a positive and negative ledger."
According to Rolando, fixing the real problem --
the pre-funding of future benefits at such an exaggerated standard -- isn't even
on the table.

Since portions of the postal service have already been privatized, there have been many useless - and I mean useless - executives given jobs that only suck more money out of the system. The real workers - especially the carriers - have been crapped on big time.

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Re: Postal Service Default: Postmaster General Pleads For Congressional Action As Bankruptcy Looms

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