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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His case is atypical, not yours.
We need to sell it, in whole or in part, in whatever pieces we can get buyers for it.
There will be no loss of jobs, overall; they will, most of them, shift to the private delivery services that buy the USPS. Some of the buyers might even suprise some people.
In some cases yes, the cost of getting something delivered may go up, and in other cases the end result may be lower consumer cost with more competition.
I'd rather see the Post Office take on new responsibilities, like becoming Census takers for example.
During WWII the joke among U.S. Italians was that when Italy printed stamps with Mussolini's face on them, people complained that they wouldn't stick to the letter. The answer was that they were spitting on the wrong side.
But still get a pension.
My “pension” is what ever monies I choose to save. You seem to think that I get a government pension. Rest assured, darling, I don’t.
Are you not allowed to participate in a 401(k) program? I must inquire, what country are you from?
If you are a postal employee, you sure as hell do “darling”.
FERS employees get SS, a pension, and the TSP. If you are CSRS you get a pension and TSP. “Darlin”
Tell me where to get it.
Tell you where to get what? Are you a postal employee? If so, you get a pension. It’s not rocket science.
Amazon at one time paid the USPS to deliver packages for them on Sundays. I wonder if amazon still does and how much the post office got per delivery.
Yes. USPS delivers Amazon on Sunday. It depends on the size and weight of the package.
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