> DeJoy warned that the post office, which has lost more than $100bn since 2007, must continue to cut costs or will remain on the path to either a “government bailout or the end of this great organization as we know it”
THE POST OFFICE IS A PUBLIC SERVICE AND SHOULD NOT BE TREATED LIKE A FOR PROFIT
THE POST OFFICE IS A PUBLIC SERVICE AND SHOULD NOT BE TREATED LIKE A FOR PROFIT
Comments
https://wapo.st/4309Ysp
"The post office doesn't *lose* money like a business, it *costs* money because it's a public service. Nobody says that the military 'loses' $800 billion a year."
"Just FedEx it," is the new "Let them eat cake."
Killing the USPS was the plan ever since they convinced Susan Collins to saddle them with pension debt.
What does this mean, exactly? People like this seem to think tax revenue is a bottomless well and there are no consequences to mismanagement and overspending.
https://www.youtube.com/watch?v=dIpDlLaISm0
USPS never had to prefund pensions; it had to prefund health care obligations to protect its employees. Retirees got Medicare part A (the "free" one) and had FEHB for the rest.
And USPS never paid it anyway. It had no money.
Everyone agreed on funding before the financial crisis and then further declines in first class mail. Now people claim it was bad idea.
https://www.lexingtoninstitute.org/wp-content/uploads/2021/01/U.S.-Postal-Service-Should-Prefund-RHB-1.28.21.pdf
It's just another case of yelling about a problem they created.
Note how DeJoy quoted "since 2007", and the prefunding mandate conveniently started in 2006.
prefunding had nothing to do with losses. USPS never paid them and the prefunding was done to protect postal employees so they would have health care when they retired. Until recently, they were FEHB. Do you not read the news? can you read?
I forgot it was 75, though. Imagine having to save up retiree benefits for someone that's not even been born yet as part of your operating costs.
Woof.
https://ips-dc.org/how-congress-manufactured-a-postal-crisis-and-how-to-fix-it/
Can you imagine someone saying "Medicare operated at a $1 trillion loss this year", or even "the DoD operated at a $850 billion loss"
I'm all for converting the USPS back into the US Postal Office Department (pre-1970 gov agency) though.
It's still a huge amount of that 100bn
The 2006 PAEA was a malign effort to privatize it with a unique $5 Billion per year IN ADVANCE retirement health benefit charge that no other agency or company gets.