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The U.S. Postal Service is in financial free fall. In large part because of Internet competition, it has lost $13.6 billion in the past two years, owes the Treasury $12.9 billion, and will soon exceed its credit limit of $15 billion. Without legislation, the universal service that is critical to all Americans and our economy, and that sustains 8 million jobs, will come to an end. Rural America, in particular, will be left behind. Action is needed now.
One of the oldest clichés in politics is that if only government were run like a business, it would be much less expensive and far more efficient. But when lawmakers have a chance to apply that maxim, they flinch. Latest example: Congress' endless foot-dragging and meddling with the troubled U.S. Postal Service.
By Elaine Thompson, AP
Diosdado Gabnat moves boxes of mail into his truck in Seattle in December.
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By Elaine Thompson, AP
Diosdado Gabnat moves boxes of mail into his truck in Seattle in December.
Sponsored LinksOPPOSING VIEW: Senate bill saves Postal Service
For the most part, the Postal Service is a business. Technically, it has been operating without taxpayer subsidies since the early 1980s. But it has a 535-member board of lawmaker-directors who can't resist second-guessing the business decisions the post office desperately needs to make to survive in the Internet era
Interesting thing is the USPS has been operating WITHOUT subsidies yet it gets criticized by the GOP in the medis. Um, agriculture industry anyone?
The USPS needs to be able to contract/expand with demand. From what I can tell, they've been slow to shut down offices or cut down on manpower until recently.
USPS is forced by congress to fund projected retirement 100 percent. No corporation that I know of does this. If you looked at the balance sheet of any large corporation (General Electric for example), and funded projected retirement 100 percent, liabilities would exceed assets. The corporation would be insolvent.
The USPS needs to be able to contract/expand with demand. From what I can tell, they've been slow to shut down offices or cut down on manpower until recently.
From what I've read before, USPS has had plans to reduce costs for many months. Might have been last year. But they haven't been able to get approval from congrees (?) to go forward. Now they just said **** it and are proceeding
Let it die and have FedEx, UPS and other start ups fight over the business. If they can't figure out how to keep it solvent then it's probably not worth saving. The only caveat is the amount of time it takes to get the job up and running and the downtime of those employees. Perhaps it can be restructured in a way that the private businesses take over employees and property.
Propping it up with tax dollars won't get us anywhere
It's written into the constitution. It's not nearly a monetary drain as other Gov' programs. Just needs to downsize and cut costs. Like the USPS is trying to do on their own.
USPS bill. Senate and Congress.
