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The Post Office May Shut Down This Winter Unless Congress Authorizes A Bailout
Business Insider ^ | 09/04/2011 | Zeke Miller

Posted on 09/05/2011 6:03:41 AM PDT by SeekAndFind

“Neither rain, nor snow, nor sleet, nor hail shall keep the postmen from their appointed rounds.” But unless Congress steps in, bankruptcy will.

The New York Times reports that unless the House and Senate take drastic action in the next few months, one of the nation's oldest institutions — which employs 574,000 Americans — may be forced to shut down.

A combination of labor costs and a declining number of packages and letters has the United States Postal Service running short on cash. The independent government agency will be unable to make a $5.5 billion payment to its employee healthcare plan by the Sept. 30 due date.

“Our situation is extremely serious,” the postmaster general, Patrick R. Donahoe, told the Times. “If Congress doesn’t act, we will default.”

To avoid insolvency, Donahoe says needs Congress to approve the elimination of Saturday delivery and the undoing of the agency's contract with its union to allow it to layoff up to 120,000 works. The Post Office is also planning to close 3,700 locations.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: again; bailout; extortion; fedex; postalservice; postoffice; shutdown; unionthugs; ups; usps; uspsdeliverysteals; uspsinsuranceisalie; uspsstealspackages
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Click on this New York Times Report for the full story entitled : Postal Service Is Nearing Default as Losses Mount
1 posted on 09/05/2011 6:03:47 AM PDT by SeekAndFind
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To: SeekAndFind

Less “bailout” and more “funding the USPS like they’re supposed to,” innit?

I mean, it’s the mail. You might as well say that DOT fixing up I-95 is a bailout of socialist roadways.


2 posted on 09/05/2011 6:06:10 AM PDT by OnlyTurkeysHaveLeftWings
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To: SeekAndFind
http://www.youtube.com/watch?v=QO7VUklDlQw
3 posted on 09/05/2011 6:06:29 AM PDT by SkyPilot
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To: SeekAndFind
Junk mail carriers.

Close it down!

4 posted on 09/05/2011 6:08:31 AM PDT by ryan71 (Dear spell check - No, I will not capitalize the "m" in moslem!)
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To: OnlyTurkeysHaveLeftWings

The DOT is not an independent service that is supposed to break even. The USPS is not supposed to be funded.


5 posted on 09/05/2011 6:08:55 AM PDT by omega4179 (Obama Downgrade)
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To: SeekAndFind

Let the current USPS crash: create another USPS without a union.


6 posted on 09/05/2011 6:09:04 AM PDT by agere_contra ("Debt is the foundation of destruction" : Sarah Palin.)
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To: SeekAndFind

No sweat, the bailout will be authorized, with a few cosmetic conditions. (My prediction).


7 posted on 09/05/2011 6:09:18 AM PDT by Pearls Before Swine
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To: SeekAndFind

90% or more of what I receive in the mail is junk.


8 posted on 09/05/2011 6:10:21 AM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: OnlyTurkeysHaveLeftWings

Isn’t having a monopoly on transmission of letters enough of an advantage? Think if the only legal way of sending a letter was through Fedex or UPS. The problem is inflexible union work rules and Congressionally mandated service levels.


9 posted on 09/05/2011 6:10:35 AM PDT by Lonesome in Massachussets (Ceterum autem censeo, Obama delenda est.)
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To: omega4179

D’oh. Brainfart. Haven’t had my legal addictive stimulants yet.


10 posted on 09/05/2011 6:11:11 AM PDT by OnlyTurkeysHaveLeftWings
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To: SeekAndFind
"...and the White Witch put a curse on the land, so that it was always winter...and never Christmas..." ~~ C.S. Lewis, The Lion, the Witch, and the Wardrobe.
11 posted on 09/05/2011 6:11:37 AM PDT by the invisib1e hand (non-union thug.)
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To: SeekAndFind

Anyone know if the USPS has ever been audited?


12 posted on 09/05/2011 6:12:57 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: SeekAndFind

13 posted on 09/05/2011 6:14:34 AM PDT by the invisib1e hand (non-union thug.)
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To: SeekAndFind

if there were no post office, there might be homes without mailboxes. If there were homes without mailboxes, the federal government wouldn’t be able to send everyone important documents from the IRS and the selective service system; ergo, there will always be a post office. It is not a federal service but a mechanism of federal control.


14 posted on 09/05/2011 6:14:53 AM PDT by RC one (Voting isn't a simple act of civic duty anymore, it's a complex act of civil war.)
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To: SeekAndFind

The USPS served a great purpose for many, many years and, to a certain extent, still does today. But times have changed and the old USPS is a dinosaur in today’s world. It needs to be pruned dramatically, restructured and refocused. I’m not sure that ANY government run agency can run efficiently but without change, the USPS will cease to exist.

Oh, and the elephant in the room is the ENORMOUS pension plan scheme the USPS has in place. That, as much as changing technology, is killing them.

Kharis13

p.s. I never really understood why you could send a letter across town or across country for the same price.


15 posted on 09/05/2011 6:18:48 AM PDT by Kharis13 (That noise you hear is our Founding Fathers spinning in their graves.)
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To: SeekAndFind

“”
Ending Saturday delivery would only cut about two percent of the agency’s budget — and is vigorously opposed by many lawmakers from states with large rural populations. They would rather the agency recover the $60 billion it has overpaid into its employee pension plans and pursue less drastic restructuring””


Interesting that the Post Office Pension Plan is overfunded to the tune of $60 Billion. In today’s economic climate it is probably the only pension plan in the USA that is overfunded.


16 posted on 09/05/2011 6:19:11 AM PDT by Presbyterian Reporter
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To: RC one

I don’t mind not getting 100% of my mail but if the government does this to healthcare (if it isn’t hopefully repealed) this country is in great doo-doo. I can’t think of one government endeavor that ended in success.


17 posted on 09/05/2011 6:19:53 AM PDT by New Jersey Realist (Congress doesn't care a damn about "we the people")
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To: SeekAndFind

But — but — Obama wants us to go green!


18 posted on 09/05/2011 6:23:57 AM PDT by Lady Lucky (Heavy the head that wears the tiara.)
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To: RC one
if there were no post office...the federal government wouldn’t be able to send everyone important documents from the IRS and the selective service system

Yeah, they would have to take over the internet or something!

19 posted on 09/05/2011 6:26:42 AM PDT by Lady Lucky (Heavy the head that wears the tiara.)
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To: the invisib1e hand

The letter to Santa with return to sender says it all. They must know Santa doesn’t use unionized elves.


20 posted on 09/05/2011 6:27:39 AM PDT by jmaroneps37 (Conservatism is truth. Liberalism is lies.)
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To: Presbyterian Reporter

They’re overfunded, so they’re going bankrupt. I wonder how that feels.


21 posted on 09/05/2011 6:29:15 AM PDT by Lady Lucky (Heavy the head that wears the tiara.)
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To: Kharis13
sell it to Fedex!

Mike

22 posted on 09/05/2011 6:29:29 AM PDT by MichaelP (The ultimate result of shielding men from the effects of folly is to fill the world with fools ~HS)
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To: SeekAndFind

Our PO shuts down every winter. 50+ nondelivery days last winter from Jan to spring. If the route is not snowed shut, it is too cold or too muddy or too something. Funny thing is that 80 year old ranchers driving 50 year old pick up trucks get over the same roads to pick up their mail from the PO. In its current form, the PO should be eliminated.


23 posted on 09/05/2011 6:30:49 AM PDT by Lion Den Dan
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To: SeekAndFind
The independent government agency will be unable to make a $5.5 billion payment to its employee healthcare plan by the Sept. 30 due date.

First question: How much money does the average postal worker (aka government union worker) pay towards it's health benefits?

Second question: How much money does the average postal worker (aka government union worker) pay towards it's retirement benefits?

24 posted on 09/05/2011 6:32:08 AM PDT by Go Gordon (He's so bad, even the people from Kenya insist Obama was born in the USA)
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To: Lady Lucky

What? you think they’ll send you a tax bill through hotmail? or send you your draft notice via twitter? no. The post office is the long arm of the federal government reaching out to every citizen in every town. They can’t eliminate it. some politicians may talk of it but they’re FOS and they know it.


25 posted on 09/05/2011 6:32:33 AM PDT by RC one (Voting isn't a simple act of civic duty anymore, it's a complex act of civil war.)
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To: SeekAndFind

“Help us, Obi-wan Obama, you’re our only hope!”

Saving the Post Office will be The One’s next big hat trick.

Instead, eliminate the letter mail monopoly and put the USPS up for sale. Maybe Bain Capital would buy it and lean it out, meanwhile, competition would be good.


26 posted on 09/05/2011 6:36:25 AM PDT by bigbob
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To: bigbob

-——Saving the Post Office will be The One’s next big hat trick.——

Even I can do that, here and now.

“The debt of the United States Postal Service to the treasury of the United States is hereby rolled over and will become payable in increments to be determined by a date no sooner than September 5, 2031.”


27 posted on 09/05/2011 6:41:21 AM PDT by bert (K.E. N.P. +12 ....Rats carry plague)
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To: SeekAndFind
I'm sure if the USPS goes belly-up, there will be quite a few private entities to take its place. They will probably do a much better job at delivering mail. In fact, the ones in existence now (Fed Ex, UPS, etc.) already do. And with the internet, how much worthwhile mail do we actually have?

Sure, getting rid of the post office will coots jobs. But I'm sure these carriers can find work in the private sector. Maybe not for the wages and bennies they have enjoyed, but that's life.

28 posted on 09/05/2011 6:42:21 AM PDT by fatnotlazy
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To: OnlyTurkeysHaveLeftWings
let them re-organize under a bankruptcy judge - without the union!!

that is the only option - no more bailouts!!!

29 posted on 09/05/2011 6:43:30 AM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-Qaeda" and its allies.)
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To: bigbob

I read someplace they will have a 3.5 billion shortfall and it costs them 3.5 billion to sort and deliver the mail. So if they just sell stamps and not deliver the mail they could break even.

Does anyone know how much they take in annually and where its spent. I’m guessing pensions.


30 posted on 09/05/2011 6:45:06 AM PDT by oldasrocks (They should lock all of you up and only let out us properly medicated people.)
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To: Presbyterian Reporter
Interesting that the Post Office Pension Plan is overfunded to the tune of $60 Billion. In today’s economic climate it is probably the only pension plan in the USA that is overfunded.

Also interesting is that is the "default" that the Post Master General is speaking of.

So, if the Post Office doesn't get a bail out, they won't be able to meet their obligated overpayment into the health and pension funds which are already over funded by law.

So where exactly is the problem? Requiring the USPS to do this is the laws on the books from the Federal Government. So, why not, instead of bailing them out to continue to overfund the health and pension funds, let the USPS skip this payment?

31 posted on 09/05/2011 6:45:23 AM PDT by Big Giant Head (Two years no AV, no viruses, computer runs great!)
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To: Lady Lucky
"...Yeah, they would have to take over the internet or something..."

DING! DING! DING! "What do we have for her, Johnny?"

32 posted on 09/05/2011 6:47:22 AM PDT by rlmorel ("When marching down the same road, one doesn't need 'marching orders' to reach the same destination")
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To: Go Gordon
First question: How much money does the average postal worker (aka government union worker) pay towards it's health benefits? Second question: How much money does the average postal worker (aka government union worker) pay towards it's retirement benefits?

Without digging up a paystub (we're moving around and it's all in boxes), I pay over $500 per check? For everything. Somewhere in that neighborhood. and don't call me a union worker.

33 posted on 09/05/2011 6:48:28 AM PDT by Big Giant Head (Two years no AV, no viruses, computer runs great!)
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To: The Office of Postal Union Thugs:

1. Forget about handling packages and dump bulk (junk) mail.

2. Ska-rew your fully funded benefits and start "paying your fair share" like normal working class Americans.

34 posted on 09/05/2011 6:51:15 AM PDT by ROCKLOBSTER ( Celebrate Republicans Freed the Slaves Month.)
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To: trisham
90% or more of what I receive in the mail is junk.

Maybe to you. To the business desperately trying to stay afloat, or maybe even increase their business, that advertisement could mean the difference between making their next payroll and bankruptcy.

We do still support the idea of free markets and small businesses here on FreeRepublic, don't we?

35 posted on 09/05/2011 6:51:21 AM PDT by Big Giant Head (Two years no AV, no viruses, computer runs great!)
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To: Lady Lucky

If they determine they cannot depend on the post office, then their only alternative will be the internet, via email.

In that event, all people will be mandated to have the Internet and email. It will become “a right”.

And when that happens, someone is going to have to pay for that.

And when someone has to pay for that, all those strings that go along with it come into play.

And THEN they will have complete control over the Internet. It is how various factions have been angling for a while.


36 posted on 09/05/2011 6:52:39 AM PDT by rlmorel ("When marching down the same road, one doesn't need 'marching orders' to reach the same destination")
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To: RC one

Actually, yes, I DO think eventually the federal government will send tax notices via the internet. These notices will say something like, “Your online citizen account has been debited...” or “Your online citizen account funds were insufficient...” In the latter case, the citizen will have maybe 30 days to work off the insufficiency, or be shut down: internet, electric, and probably water service too.

As you say, “The post office is the long arm of the federal government reaching out to every citizen in every town. They can’t eliminate it.” They must beef it up and modernize it so that the long arm is longer and stronger. They really don’t need the merry mailman for that anymore. We can be intimidated, pumped, vampirized and prosecuted electronically, remotely.

It’s inevitable.


37 posted on 09/05/2011 6:52:49 AM PDT by Lady Lucky (Heavy the head that wears the tiara.)
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To: SeekAndFind

http://michellemalkin.com/2009/08/11/gaffetastic-dohbamas-post-office-blunder/

[A]t another point of today’s town hall meeting, Obama was pushing back against the idea that the creation of a new government-run plan would drive private insurers out of business, and he said that UPS and FedEx were doing fine, but “it’s the post office that’s always having problems.” Oops!


38 posted on 09/05/2011 6:53:10 AM PDT by maggief
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To: RC one

But hey, cheer up. You’ll get a FREE computer!


39 posted on 09/05/2011 6:53:31 AM PDT by Lady Lucky (Heavy the head that wears the tiara.)
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To: ROCKLOBSTER
Ska-rew your fully funded benefits and start "paying your fair share" like normal working class Americans.

Where do I sign up for these "fully funded benefits" of which you speak? I'm paying for mine.

40 posted on 09/05/2011 6:53:34 AM PDT by Big Giant Head (Two years no AV, no viruses, computer runs great!)
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To: RC one

And someday...the free computer will be implanted behind your pituitary!


41 posted on 09/05/2011 6:54:30 AM PDT by Lady Lucky (Heavy the head that wears the tiara.)
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To: Big Giant Head

I know I do. Do you, Big Giant Presumptuous Misrepresenting What I Said Rude Head?


42 posted on 09/05/2011 6:54:37 AM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: Big Giant Head
Without digging up a paystub (we're moving around and it's all in boxes), I pay over $500 per check? For everything. Somewhere in that neighborhood. and don't call me a union worker.

$500 a check is alot. I saw where the retirement fund is over-financed by $60 billion. Anyway, are you saying you aren't in a union? I thought postal workers were unionized?

43 posted on 09/05/2011 6:56:21 AM PDT by Go Gordon (He's so bad, even the people from Kenya insist Obama was born in the USA)
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To: Big Giant Head
Where do I sign up for these "fully funded benefits" of which you speak?

Virtually ANY government job.

44 posted on 09/05/2011 6:59:06 AM PDT by ROCKLOBSTER ( Celebrate Republicans Freed the Slaves Month.)
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To: Go Gordon

I refuse to join. I’m everything a union worker isn’t supposed to be. I go out of my way to serve my peeps to the best of my ability. I break the stupid rules if I have to to serve a mailbox. I dismount for folks that I’m not “authorized” to dismount my vehicle for. My customers are MY responsibility, and I don’t go all “union” on them. They are the ones paying for stamps, I service them. Not the union.


45 posted on 09/05/2011 7:00:54 AM PDT by Big Giant Head (Two years no AV, no viruses, computer runs great!)
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To: rlmorel

Of course! In fact, liberal fascists can make a much better case for taking over the internet, than they ever could for taking over health care. After all, even the Founding Fathers made constitutional provision for it: they called it the post office. Private parties could have carried the communications, yet the federal government was given the power.


46 posted on 09/05/2011 7:01:22 AM PDT by Lady Lucky (Heavy the head that wears the tiara.)
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To: ROCKLOBSTER

So...why does it cost me so much money if it’s free?


47 posted on 09/05/2011 7:01:53 AM PDT by Big Giant Head (Two years no AV, no viruses, computer runs great!)
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To: SeekAndFind

I don’t think the USPS should be abolished but it definitely needs to be “re-invented”. How to go about it, I have no clue because politicians are in charge of that. But it’s a shining example of unions-gone-wild running a company into the ground. A good start; stop Saturday delivery, close smaller post offices, supplement PO’s with 3rd parties - Office Depot, Mailboxes, etc., charge more for 1st class and junk mail, and start dismantling years of asinine union contracts.


48 posted on 09/05/2011 7:04:55 AM PDT by xenob
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To: SeekAndFind
I get nothing through the mail that I could not wait a couple of days for cut back delivery to two days a week(Mon. and Wed. and Tues. and Fri.) Fire half the carriers dissolve the union contract and pass a law making it illegal for public employees to unionize!!!
49 posted on 09/05/2011 7:06:05 AM PDT by ontap
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To: Big Giant Head
Beats me, maybe UPS has a better deal.

What do you make an hour?

50 posted on 09/05/2011 7:06:52 AM PDT by ROCKLOBSTER ( Celebrate Republicans Freed the Slaves Month.)
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