Do it like this and you'll never go by!
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.
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The USPS undercharges for junk mailings. They should quadruple the charge for junk mailings. Better yet, charge ten times as much. I would be happier. I'm sick of ripping my name off junk mail and then trashing the waste.
Do it like this and you'll never go by!
My stamp of choice is the Prostitution Commemorative.
It costs twenty-five cents. Fifty if you want to lick it.
“Could we get by WITHOUT a Post Office?”
NO!!!!
How the heck would I pay my bills???
And don’t give me the “online banking” BS ... tried that and last year someone hacked into my checking account and drain all but a few hundred buck. Bank still can’t figure out how they did it. I shut it all down and just go to the bank lobby to get cash now.
I’ll never trust online banking ... and neither should anyone else.
Mail is still the best way to pay your bills and ship things around.
The USPS has been financially collapsing for decades...
Just think, all junk mail would stop coming. It’s a disaster I tell you!
You’re hoardin’ all the stamps aren’t you? Stamp hoarder!
Yam stampin as hoard as I can!!
A yam stamper too!? You’re a soccer for all the latest fads.
Mail is still the best way to pay your bills and ship things around.
You example is atypical.
The USPS pays the Federal treasury a flat $5 billion (or more) a year. For what? That is the difference between ‘’profit’’ (or break even’’) and deep in debt.
None the less, they have many times the people in ‘’management’’ than they need with many local Pos not even having a postmaster.
>>1) I’ve heard that China and commercial entities gets preferential rates that don’t cover cost.
Here’s an easy way to verify that.
Order something from Ebay that is sourced in China for about $3.00, free shipping. Several weeks later it will show up.
Take that same packet and mail it from your home to your work address. Note that it will probably cost at least $4 for same thing to ship across town in the same postal zone as it cost to ship from China. This assumes the product was free. In fact the product was probably $2.50, the shipping was 50 cents.
For bonus points, attempt to ship it back to the origin address. It’s best if you grab something to hold, like a counter or a wall before you are quoted the price. Fainting it quite likely.
This pic a testiment to the last feller who ignard my warnings.
How many US corporations would still be in business if they were obligated to pre-fund their retiree healthcare benefits out to 75 years and be given 10 years to accomplish that task?
This is the burden Congress placed on the Post Office in 2006. Maybe its time to level the playing field.
A top paid (max step) makes about $400.00 on OT. And I’m glad you think we gamble with government credit cards, and hide in bathrooms. SF
I suspect their main problem is the huge financial load of their retirees - pensions & health care are independent of and considerably better than Social Security & Medicare, and there are a lot of recipients.
No wonder you’re so bent out of shape. You’re a mail carrier aren’t ya?
All I can say is ... you’re doin’ it wrong!
“The USPS undercharges for junk mailings.”
I don’t know if it’s still true, but several years ago I read that first-class (letters, most bills, etc.) and third- class (’Junk”) mail subsidizes second-class mail (mostly magazines and periodicals).
Most carriers on Civil Service Retirement are already retired. Everyone hired after 1985 or thereabouts, are on the Thrift Savings Plan...a 401(k) program.
Like the govt in general.
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