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Post Office Current Debt Tops $160 Billion

swing_voter said:
The post office paid a generous pension. That's what's costing the post office so much money, paying all those retirees.
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Wrong. The post office was saddled with an absurd pension requirement by Congress: they were made to prefund 75 years of pension funds. They're funding pensions for workers who haven't been born yet. The vast majority of USPS debt exists only on paper.

Wait, lets do this bigger for Trump fans

The vast majority of USPS debt exists only on paper.
 
jnug said:
I have no idea why so many Pols have had it in for the USPS all these years ....but they have. USPS happens to be the most respected US government service even after all of the Machiavellian maneuvers of past Pols. This Trumpian effort is far more bare faced and much more damaging in my view, not necessarily because of the decommissioning of some number of flat sorters. However, I would suggest that any changes to postal service in the midst of a Pandemic and 3 months ahead of an election is flat ridiculous, flat unscrupulous and needs be stopped IMMEDIATELY.
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Total agreement!

I forgot to mention in the first post, by way of comparison to funding issues, the amount unaccounted for at DoD is equal approximately to the national debt, far eclipsing the financial shortcomings of USPS.

USPS is in financial difficulty because successive administrations have put it in financial straights.
 
Thoreau72 said:
Total agreement!

I forgot to mention in the first post, by way of comparison to funding issues, the amount unaccounted for at DoD is equal approximately to the national debt, far eclipsing the financial shortcomings of USPS.

USPS is in financial difficulty because successive administrations have put it in financial straights.
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And now we have a guy in charge of the USPS who owns millions of dollars in stock in a company that handles post office contracts. He stands to gain a lot of money by tanking the post office's ability to do its job... and oh look he's doing exactly that!
 
tacomancer said:
Right now during a pandemic, there is an increased need for a reliable mail system. It is appropriate that it is in the COVID funding packages.
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I hate to see important, clear cut issues bagged together and bogged down in other bills. I understand why Congress does it, but I would argue they shouldn't.
 
jnug said:
Its a government guaranteed service written into the Constitution and nobody has written it out of the Constitution. Its not a business.

The United States Postal Service (USPS; also known as the Post Office, U.S. Mail, or Postal Service) is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the United States, including its insular areas and associated states.

Also those that claim that the language in the Constitution does not guarantee it as a government service need to look up the meaning of the word "shall" in constitutional law. That should quickly end that debate.
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You seem to be operating under the delusion that a business and a service are mutually exclusive things. They aren’t. USPS operates as a Federally owned business - it sells goods and services to pay its employees and fund their benefits. They are not provided free of cost by the government.
 
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BlueTex said:
It sound like they listened just fine... They also passed a bill back in Feb to get rid of the stupid pre funding requirement which is driving a lot of their financial problems... Still sitting on McConnell's desk...

House Votes to End Controversial USPS Payments for Future Retirees' Health Care - Government Executive

Where has the GOP senate been?
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“China has built the largest high-speed rail network in the world. The impacts go well beyond the railway sector and include changed patterns of urban development, increases in tourism, and promotion of regional economic growth. Large numbers of people are now able to travel more easily and reliably than ever before, and the network has laid the groundwork for future reductions in greenhouse gas emissions,” said Martin Raiser, World Bank Country Director for China.

My point being> It doesn't make money and costs the people in China to have such a wonderful system..but no...they should dismantle the damn thing. Yeah.... :)
 
Metric Mouse said:
I hate to see important, clear cut issues bagged together and bogged down in other bills. I understand why Congress does it, but I would argue they shouldn't.
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I do as well, but in this case and without a senate that is responsive to citizen concerns, hardball is necessary.

In a perfect world, your statement makes sense every time.
 
OrphanSlug said:
These two lines are all you need to know about the OP's intentions... it is basically the 'la la la i can't hear you' defense of President OrangeGlow.
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Well, why the hell did not Obama and Biden deal with it? They had 8 years and did nothing.
 
Linc said:
McConnellism refuses to negotiate. Every at-risk GOP Senator will be held accountable, including those whose constituents in rural areas need the USPS the most.
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No, every at risk Dim will be held accountable. Count Doug Jones gone.


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HIP56948 said:
“China has built the largest high-speed rail network in the world. The impacts go well beyond the railway sector and include changed patterns of urban development, increases in tourism, and promotion of regional economic growth. Large numbers of people are now able to travel more easily and reliably than ever before, and the network has laid the groundwork for future reductions in greenhouse gas emissions,” said Martin Raiser, World Bank Country Director for China.

My point being> It doesn't make money and costs the people in China to have such a wonderful system..but no...they should dismantle the damn thing. Yeah.... :)
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I'm not saying to dismantle the postal system, just to charge what it really costs to send mail and packages.

The problem as someone pointed out is the USPS' pension contributions.
 
jcgriff2 said:
Well, why the hell did not Obama and Biden deal with it? They had 8 years and did nothing.
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6 of those 8 years Republicans were in control of the Senate, 4 of those 8 years Republicans owned all of Congress... what were they waiting for?
 
OrphanSlug said:
These two lines are all you need to know about the OP's intentions... it is basically the 'la la la i can't hear you' defense of President OrangeGlow.
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He has no time for the tanning bed these days. He gets enough color out on the golf course.
 
Thoreau72 said:
The assault against the Postal Service began on Bill Clinton's watch, possibly before.

Dick Armey and cohorts, working on behalf of Fed Ex and UPS, generated legislation that forced the Postal Service into unrealistic and grossly unfair accounting procedures. That set the stage for what we're seeing now.

George Bush piled on and generated new measures and practices that made matters worse. Now Trump wants to administer the coup de grace. Fascism thrives in the United States.
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Bush signed a bi-partisan bill for the post office that included the pension contribution change.

Hell, Biden probably voted for it as the bill was pro-union.

The USPS contracts with FedEx and UPS for their overnight deliveries. That must cut into profit.
 
jcgriff2 said:
Bush signed a bi-partisan bill for the post office that included the pension contribution change.

Hell, Biden probably voted for it as the bill was pro-union.

The USPS contracts with FedEx and UPS for their overnight deliveries. That must cut into profit.
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Sure could use those trillions given to GOP Big Corporations that didn’t need it, eh?
 
jcgriff2 said:
Bush signed a bi-partisan bill for the post office that included the pension contribution change.

Hell, Biden probably voted for it as the bill was pro-union.

The USPS contracts with FedEx and UPS for their overnight deliveries. That must cut into profit.
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It was a voice vote, so there is no record... It was the lame duck GOP house and senate that were about to lose control of the house and senate about two weeks later...
 
OrphanSlug said:
6 of those 8 years Republicans were in control of the Senate, 4 of those 8 years Republicans owned all of Congress... what were they waiting for?
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Obama and Biden to ask nicely just like Pelosi treats Trump when he wants something.

The dems have done nothing but harass Trump, impeach Trump, trying again to impeach Trump when they should be dealing with the committee responsible for the USPS.

To be honest, I don't know who controlled Congress when Bush 43 signed that stupid Postal pension bill into law.

I'll bet the accounting in it does not even comply with GAAP.
 
BlueTex said:
The unions passed the Postal Accountability and Enhancement Act? Can you name another pension plan that requires funding of pensions for workers who haven't even been born yet?

This is the GOP bill that started this nonsense...

H.R.6407 - 109th Congress (2005-2006): Postal Accountability and Enhancement Act | Congress.gov | Library of Congress
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The unions probably put pressure on management - possibly with the threat of another strike.

You know damn well that unions don't pass legislation. It was a good shot though! :0



EVERY democratic House member except 1 passed it as did all but 20 GOP. So do not blame this on the GOP solely.

H.R. 22 (109th): Postal Accountability and Enhancement Act -- GovTrack.us
 
BlueTex said:
The unions passed the Postal Accountability and Enhancement Act? Can you name another pension plan that requires funding of pensions for workers who haven't even been born yet?

This is the GOP bill that started this nonsense...

H.R.6407 - 109th Congress (2005-2006): Postal Accountability and Enhancement Act | Congress.gov | Library of Congress
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And here are your co-sponsors - many were democrats.

Cosponsors - H.R.22 - 109th Congress (2005-2006): Postal Accountability and Enhancement Act | Congress.gov | Library of Congress
 
jcgriff2 said:
Obama and Biden to ask nicely just like Pelosi treats Trump when he wants something.

The dems have done nothing but harass Trump, impeach Trump, trying again to impeach Trump when they should be dealing with the committee responsible for the USPS.

To be honest, I don't know who controlled Congress when Bush 43 signed that stupid Postal pension bill into law.

I'll bet the accounting in it does not even comply with GAAP.
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That would be the 109th Congress... all Republican controlled.
 
Linc said:
Sure could use those trillions given to GOP Big Corporations that didn’t need it, eh?
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No corp got trillions of dollars. That is absurd.

But the bill has kept all of extended family working and paid (corp execs, lawyers, accountants, etc...) - but they work from home now.
 
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