US Postal Service lost $16 Billion last year
Posted in the Richvale Forum
#1 Sep 20, 2013
The Postal Service lost $16 billion last year,$11 billion of it in congressionally-mandated payments to its health fund for future retirees.
The Senate plan includes changes in how pensions and retiree health care costs are calculated in an attempt to stabilize the agency's finances.
It also would impose a two-year moratorium on closing mail processing plants. The agency would be allowed to ship beer, wine and spirits to compete with private shippers such as FedEx, under the proposal.
Imagine that. The law says you must fund contracted liabilities as not to create UNFUNDED LIABILITIES, and the government run post office is going broke.
The democrats wanted to continue to fund the pony express as well.
Time to let Fedex and/or UPS take over the mail service.
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