Post Office

[Mr. Lackawanna]

The Post Office got an extended life according to an article (5-11-12) in the Buffalo News.
The post office is banned by law from closing any Post Office if will affect overnight delivery.
Once again our political leaders did not want to face the problem head on. They choose to push the problem back 3 years.
The chief political rule is don't face anything that that could hinder your chance of being elected again.
When will our politicians face the issues one way or another that are important to the economy of this country?

[Jerry A]

The Post office should go the same way an the home delivery of Milk, this is 2012, if something is important who can wait till the next day DAAAAAAAAAAAAAAAAAAAAAAAAaaaaaaaaaaaaaaaaaaaaaa

[DR_GONZO]

The USPS is not part of the government. The U.S. government should have not meddled in the affairs of the USPS.

[TheDude]

The USPS is not part of the government. The U.S. government should have not meddled in the affairs of the USPS.

Uhhhh.... what?

[Mindcrime]

The only reason the USPS is facing financial disaster is because Bush signed the PAEA of 2006, which mandated they pre-fund 100% of their health care obligations for the next 75 years. No other public or private employer is required to do this.

The post office is not "a problem."

[Dougles]

The only reason the USPS is facing financial disaster is because Bush signed the PAEA of 2006, which mandated they pre-fund 100% of their health care obligations for the next 75 years. No other public or private employer is required to do this.

The post office is not "a problem."

You mean the law that got more than 50% of Dem's to vote YES?

I love the left... they blame it ALL on Bush, but ignore that they support the law and in the 6 years since it's passed the dem's have offer ZERO, ZILLCH, NADA bills to stop the pre payments! All they want to do is extend the line of credit from 10 BILLION to 15 Billion.


Also, let's do some math. The Post Master General put the 75 year HC costs at 25 BILLION. To date, the USPS has paid $16 Billion of that, $4B in cash, and $12B with the credit line. Last week, the PMG said the USPS is set to CREATE another $35 Billion in debt over the next 25 years.

So $35B+ $16B = $51B, when you take out the $25B for HC costs, that leaves them running $26B in the red over a 28 year period... yeah no problem here!

[WNYresident]

If we were not pissing money away in other countries it wouldn't be no biggie to offset the cost for the post office. At least it is a service you actually see happening.

[Mindcrime]

If we were not pissing money away in other countries it wouldn't be no biggie to offset the cost for the post office. At least it is a service you actually see happening.

That's true. Before the PAEA the Post office was actually self-funding by using a 3-year cycle for stamp increases. Profitable in first year, break even in the second year and operating at a temporary loss the third year until the next stamp increase perpetuated the cycle. This allowed the USPS to speed up delivery and keep stamp increases at a minimum (less than normal inflation), all while paying the full retirement & health care costs a decade ahead. It was working.

[Dougles]

If this were true, then why was the Post Master General saying there would be an EXTRA $26 Billion in debt over the next 25 years...