If Congress wouldn’t require the USPS to overfund pensions, the crisis would be solved.
“If Congress wouldn’t require the USPS to overfund pensions, the crisis would be solved.”
Congress needs to act on this and the USPO will be solvent. We need to be informed of the truth.
The PO has not used a dime of Tx payer money in 30 years.
Over the past four fiscal years, the PO has earned a 611 million net profit delivering mail despite the worst recession in 80 years.
The $20 billion in postal losses don’t stem from the mail, but rather from a 2006 congressional mandate that the Postal Service pre-fund future retiree health benefits for the next 7 years and do so within a decade- a burden no other public agency or private firm faces. The $21 billion cost since 2007 accounts for 100% of the agency’s red ink over that period.
Congress created this mess, and lawmakers can fix it, without using a dime of taxpayer money. House Bill 1351, with strong bipartisan support does just that.
Congress can oversee the stabilization of the Postal Service or its destruction.