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Financial collapse of the United States Postal Service is coming
The Hill.com ^ | Kevin Kosar

Posted on 05/19/2019 2:38:39 PM PDT by Patriot777

OPINION | FINANCE May 17, 2019 - 04:00 PM EDT Financial collapse of the United States Postal Service is coming

BY KEVIN KOSAR, OPINION CONTRIBUTOR The views expressed by contributors are their own and not the view of The Hill TWEET SHARE EMAIL

The United States Postal Service (USPS) will run out of cash in five years. Postmaster General Megan Brennan shared this news in testimony before the House Oversight and Reform Committee earlier this month. The immediate consequence of USPS becoming insolvent would be that the world's largest postal system - which moves 150 billion mail pieces per year, or 412 million pieces per day - would be dead in the water. This is something that has never occurred in the Postal Service's long and storied history.

If you think these primary effects would be devastating, the secondary effects would be catastrophic. More than half a million postal workers would be without wages. Magazine companies, which send millions of glossies per month, would be stuck trying to find local deliverers. Retailers - particularly those that sell via catalogs - would see their main advertising medium vanish. The paper and printing companies they work with would see their revenues plunge. Prescription drug deliveries would be disrupted as sellers scrambled to find alternate means for delivery. Jury summons, voting materials (including ballots for overseas troops), and international mail and shipments would stop flowing.

During the hearing, Rep. Mark Meadows (R-N.C.) demanded USPS produce a turnaround plan by July that would save the Postal Service. To date, the agency's plan has consisted of trying to trim costs, mostly by reducing the hours worked by employees, and reaping more revenue by delivering more.

(Excerpt) Read more at om.cdn.ampproject.org ...


TOPICS: Business/Economy; Government; News/Current Events; US: North Carolina
KEYWORDS: collapse; financial; kevinkosar; markmeadows; meganbrennan; northcarolina; thehill; thehillary; theshill; usps
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To: Patriot777

Our postal carrier seems to have become an Amazon delivery person in addition to junk mail duties. Her car is usually filled with Amazon packages. There are are arguments as to how lucrative that is for the USPS - https://www.washingtonexaminer.com/for-every-amazon-package-it-delivers-the-postal-service-loses-146


41 posted on 05/19/2019 3:15:25 PM PDT by RightGeek (FUBO and the donkey you rode in on)
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To: Patriot777

Turn the system over to McDonald’s. They’ll have everything automated and priced cheap within those 5 years. Done.


42 posted on 05/19/2019 3:16:38 PM PDT by PeteePie (Righteousness exalts a nation, but sin is a reproach to any people - Proverbs 14:34)
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To: shelterguy
If I got my mail three times a week it would be plenty.

Roger that !

43 posted on 05/19/2019 3:17:03 PM PDT by tomkat
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To: Freedom4US
Yes, and it drives decent employees away, and makes for a hostile work environment.


44 posted on 05/19/2019 3:18:35 PM PDT by llevrok (Vote, while it is still legal!)
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To: shelterguy

Mom, Wed, Fri one week, Tue, Thurs the next, no Sat. That should get rid of nearly half the crew.


45 posted on 05/19/2019 3:20:06 PM PDT by MileHi (Liberalism is an ideology of parasites, hypocrites, grievance mongers, victims, and control freaks.)
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To: Patriot777

All I know is:

1) If I order something it is normally at my house within a week - even if it is coming from the other side of the country.

2) Wife just got a letter from Japan in less then 10 days.

3) My local carrier is very nice and leaves her vehicle to drop a package at the front door when it doesn’t fit the mailbox.

4) The Postal inspectors I’ve dealt with for identity theft and lost packages were useless and basically despite evidence failed to following up on my case(s).

Things I haven’t verified:
1) I’ve heard that China and commercial entities gets preferential rates that don’t cover cost.

2) It’s a union location so I’m sure there is redundant bureaucracy and waste that should be eliminated.

3) There are contracts for Fedex and others to much of the transport - I doubt we are seeing the savings that such a contract should provide, and would guess we are actually subsidizing their normal ops.


46 posted on 05/19/2019 3:20:36 PM PDT by reed13k (For evil to triumph it is only necessary that good men do nothing)
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To: Patriot777

It’s not run like a business because it’s not a business. It’s an arm of the government. A mail service is essential, even if it runs at a loss.
Money can be saved by eliminating those welfare-payments-disguised-as jobs, and not letting politicians appoint people as favors.


47 posted on 05/19/2019 3:23:19 PM PDT by I want the USA back (Islam, not a religion, a totalitarian political ideology aiming for world domination. -Wilders)
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To: lee martell
The big reason for insolvency of USPS is that 1/3 of the money they garner goes back into the Federal General Fund.

"Rep. Mark Meadows (R-N.C.) demanded USPS produce a turnaround plan by July that would save the Postal Service."

You can produce all the "turn around plans" that you like, but with 1/3 of all your revenues being sucked away, you are going to fail.

Nice going, Fed.

48 posted on 05/19/2019 3:26:48 PM PDT by Thommas (The snout of the camel is in the tent..)
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To: Patriot777

Yay!

Obamacare next, please!


49 posted on 05/19/2019 3:29:22 PM PDT by Uncle Miltie (Trump 2020 - Re-Elect the M*****F***er!)
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To: donozark

Put the stamps on your EMAIL


50 posted on 05/19/2019 3:30:06 PM PDT by xrmusn (6/98"HRC is cast as the Grandmother that lures Hansel & Gretel to the pot")
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To: Patriot777

Three words:

Pri Va Tize


51 posted on 05/19/2019 3:33:44 PM PDT by Rennes Templar (Heaven has a wall and gates. Hell has open borders.)
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To: Patriot777
First, stop delivering on Saturdays.

Second, end the pension system and go to a 401(k) based system.

52 posted on 05/19/2019 3:39:44 PM PDT by Go Gordon (I gave my dog Grady a last name - Trump - because he loves tweets.)
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To: Menehune56
Thank you - much appreciated!
53 posted on 05/19/2019 3:41:00 PM PDT by pilipo (We are not free.)
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To: shelterguy

Very easy to divide the country into two zones. Zone 1 is Monday, Wednesday, Friday deliveries. Zone 2 is Tuesday, Thursday, Saturday deliveries. Then alternate every other year or so. License retailers to deliver post services like Staples used to do before the postal workers union objected. It was nice to be able to park, but stamps and mail packages during hours convenient to working class folks. Well, I can still ship packages from Staples if I use UPS instead.


54 posted on 05/19/2019 3:41:17 PM PDT by Vigilanteman (The politicized state destroys all aspects of civil society, human kindness and private charity.)
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To: Patriot777

Bookmark


55 posted on 05/19/2019 3:42:49 PM PDT by Southside_Chicago_Republican (The more I learn about people, the more I like my dog.)
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To: Patriot777

It’s my fault. For years I’ve been mailing everything with 1 cent stamps. It cost the PO the same to print one of them as it does the forever stamp. I just use 50 of them at a time. I like the taste of the glue...


56 posted on 05/19/2019 3:50:21 PM PDT by Typelouder
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To: Thommas

“The big reason for insolvency of USPS is that 1/3 of the money they garner goes back into the Federal General Fund.”

I’ve never heard that claim before.

I do know that beginning in the Bush 43 years Congress required the USPS to pre-fund all of its estimated future retirement and health care liabilities, which is a huge expense. No other government agency or private business is required to do this.


57 posted on 05/19/2019 3:51:33 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
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To: DIRTYSECRET

I think in time it will be possible. Bulk mail and package delivery has been being done better by UPS, FedEx and others for years. Who writes letters anymore? Text messaging has virtually eliminated that.


58 posted on 05/19/2019 3:51:58 PM PDT by jmacusa ("The more numerous the laws the more corrupt the government''.)
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To: Oscar in Batangas

The post office is not constitutionally mandated. Article One, Section Eight, Clause Seven states that Congress “shall have the power” to establish Post Offices and post Roads. It could contract private companies to do so, or declare the post office obsolete if it wanted to.


59 posted on 05/19/2019 3:54:06 PM PDT by SoCal Pubbie
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To: Patriot777

When I go to other countries...the post office is like a mini 7-11. They sell everything. Phone sims to boxes.

A little old fashion capitalism would help them.


60 posted on 05/19/2019 3:55:32 PM PDT by Drango (A liberal's compassion is limited only by the size of someone else's wallet.)
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