Postal Service Debt to Hit $45 Billion Unless Law Changes

[cheryl]

Postal Service Debt to Hit $45 Billion Unless Law Changes - Bloomberg

The U.S. Postal Service, which lost $1.3 billion in its first quarter, said its debt could reach $45 billion by around 2017 if Congress doesn’t pass legislation allowing it to change its business model.

The post office, at a Senate Homeland Security and Governmental Affairs Committee hearing today, asked for permission to run its own health plan for employees and retirees. Postmaster General Patrick Donahoe testified the service could save as much as $7 billion a year through 2016 by taking its health coverage out of the U.S. government plan.

In addition to ending Saturday delivery, the service should end door-to-door delivery by instead putting mail in “cluster boxes” to save delivery costs, Issa said. He is chairman of the House Oversight and Government Reform Committee.

 

[ImWaitingForTheDay]

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[Insincerity]

The USPS should just pay the fine for Obamacare.

 

[TUT]

Such a fine line. You want to see people have good jobs, which USPS'ers do. But then you have this other issue where they bleed money and you have two very profitable alternatives. One side wants you to say, it should be going UPS or Fedex as they make it work. However, there are a lot of jobs on the line axing USPS like this. Now USPS should raise their prices to be more inline with the others and then have the market decide if they are good enough. If they are, with that additional revenue then it's good on them.

They were running numbers on the news for an overnight package, UPS and Fedex are twice the cost of USPS. Well you are short on money, but you are undercutting free market companies by 1/2. How about raising your price? USPS is a subsidized business, which just isn't fair.

Like I said, all the Avg Joe workers, man I want to see them do well, so it's a tough call.

 

[Overpaid Union Thug]

The USPS is like a terminally ill patient that is laying in the hospital and suffering but someone is refusing to pull the plug and put them out of their misery.