Neither Rain Nor Sleet Nor Lack of Money

I can’t think of the last time I mailed a letter.  Hell, I don’t even know how much a stamp costs these days.  You know why?  It’s not because I’ve embraced technology. ( I have).  It’s because the Post Office sucks at what they do.  When I want to mail a package (on time and undamaged), I use FedEx or UPS or ANYONE besides the USPS.

As if we needed proof the USPS wasn’t up to snuff, this came out yesterday:

The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink.

With cash running perilously low, two legally required payments for future postal retirees’ health benefits — $5.5 billion due Wednesday, and another $5.6 billion due in September — will be left unpaid, the mail agency said Monday. Postal officials said they also are studying whether they may need to delay other obligations. In the coming months, a $1.5 billion payment is due to the Labor Department for workers compensation, which for now it expects to make, as well as millions in interest payments to the Treasury.

The defaults won’t stir any kind of catastrophe in day-to-day mail service. Post offices will stay open, mail trucks will run, employees will get paid, current retirees will get health benefits.

But a growing chorus of analysts, labor unions and business customers are troubled by continuing losses that point to deeper, longer-term financial damage, as the mail agency finds it increasingly preoccupied with staving off immediate bankruptcy while Congress delays on a postal overhaul bill.

Continue reading here…

As the article states, the U.S. Postal Service isn’t paid for with tax dollars but it IS subject to Congressional control.  Which begs the question, can Congress run ANYTHING properly?

 

 

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About BC

"That's baseball, and it's my game. Y' know, you take your worries to the game, and you leave 'em there. You yell like crazy for your guys. It's good for your lungs, gives you a lift, and nobody calls the cops. Pretty girls, lots of 'em."
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  • Swehrlymi

    You do realize that USPS delivers packages for FedEx and UPS when deliveries are out of the way or not cost effective for them?

  • heidiannej

    I use the post office to mail packages. especially to Europe. why? because it’s less expensive, more convenient – did I say less expensive? that being said, while the charter may not be paid for by taxpayers, who do you think will make up the shortfalls? yes, taxpayers.

    unions should not be allowed in the public sector. period. unless investing in a private retirement plan, government employees – including congressman, senators and postal workers (excluding military) – should get nothing more than the social security the rest of us get. think of the help to the bottom line that would be – not just for the poat office, but the federal government in general…