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 ...
If the US Postal Service goes under, can I still use my Forever Stamps?
The stuffing of garbage in people’s mailboxes is their bread and butter and also why most people won’t miss them.
Yet Amazon makes so much money they can fund a private space program. Their regulations need to be loosened up to be able to compete with other logistics companies.
Stop subsidizing Amazon.
95 percent of the mail I get is junk.
How did that work out?
What is a “postal service”? Is it some new type of text or email system?
Yup. When you want government supplied service, such as healthcare, look no farther than the USPS or the VA or the Bureau of Indian Affairs or Amtrak or the .........
Nonsense! I want stamps I can use but never buy.
That’s just rearranging deck chairs on the Titanic.
No, what they need to do print stamps that people will buy—but never use!
One out 20 postal employees do anything useful.
Yes, and it drives decent employees away, and makes for a hostile work environment. They get a note from their “Doctor”, who says they are prohibited or exempt from delivering mail. So they sit on their ass all day.
Waste Fraud and Abuse. I’m sure the P.O. was a great place to work at one time, like everything else.
I wanted to read this article too. Here’s a working link.
Its okay.
As climate change will wipe the world out in 12 years,...
Other than the once in awhile use of an AMC kiosk, I’m game.
No doubt I could adapt.
Turn the USPS into a social media service.
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