USPS running out of cash; may default on pensions

KGO ^ | 9/5/11 | KGO

[Cheetahcat]

"Still embarrassed to tell us what you do huh?"

NO Peewee but it is none of your Allah damn business,You are a Muslim right?

[PeteyBoy]

If I remember correctly—the only money the Federal Government gives the Postal Service is for postage for matter for the blind(free postage) and for shipping school books. No other subsidy, period!

[ltrman61]

Isn’t this outrageous?

Thirty months into the job, the company’s U.S. drivers earn top union scale wages — up to $70,000 or more a year. Senior drivers get up to nine weeks paid annual leave. While most workers’ medical insurance premium costs are rising, ______ picks up 100% of drivers’ premiums. Pensions are also generous; drivers retiring after 25 years get up to $30,000 a year.

High pay and deep-pocket perks are largely why _____ drivers average 16.2 years on the job, four times longer than the typical American worker. They’re mostly why turnover is 1.8% a year.

Guess who??

[ltrman61]

Can’t wait until they buy us out!! Hog heaven!

[Cheetahcat]

"Isn’t this outrageous? Thirty months into the job, the company’s U.S. drivers earn top union scale wages — up to $70,000 or more a year. Senior drivers get up to nine weeks paid annual leave. While most workers’ medical insurance premium costs are rising, ______ picks up 100% of drivers’ premiums. Pensions are also generous; drivers retiring after 25 years get up to $30,000 a year. High pay and deep-pocket perks are largely why _____ drivers average 16.2 years on the job, four times longer than the typical American worker. They’re mostly why turnover is 1.8% a year. Guess who??"

WHO Cares you nickel and dime Wacko ?

[chris_bdba]

Not at all and am wondering how the h*ll you got that from what I said.I was speaking of the never ending bail outs the post office has got every several years. I have no idea what you are talking about because I was not addressing what you said nor reading your posts.You seem to support the PO I on the other hand think it’s way past due being retired to the dustbin of history.People do not write letters anymore they use the internet....

[Colonel Kangaroo]

The post office has never been bailed out. On the contrary, the USPS has been bailing out the US government ever since Congress required the postal service to overfund future employee pensions. Far from needing a bailout, the Inspector General says that merely allowing the USPS to prefund pension obligations and private sector levels would cure the USPS financial woes. Seems fair as we all want the USPS to be run like a private sector company!

Inspector general: Pension payment reform could cure Postal Service financial woes

[gandalftb]

What many don't know is that the PO doesn't even deliver most of our governments mail.

The Dept of Commerce uses FedEx exclusively, even for letters.

Departments are allowed to subcontract and the PO lost out because they were so expensive.

The public unions will take the PO to its grave, can't be stopped.

If the PO couldn't eliminate Saturday delivery, that has been proposed for over 20 years, they are obviously unable to save themselves.

[taildragger]

Thank you. A Caller to Bill Bennett's program noted this, but besides the pre-funding were their some benefit issues they were trying to solve or pension benefits? I seem to remember that.

What was the reason for this 2006 law?

[ltrman61]

Please inform me of ONE bailout the USPS has had? Can’t can you? And what is it you do for a living?

[ltrman61]

Umm...the USPS unions are not “public” unions in the sense you are talking about. They are not funded by taxpayer money for the umpteenth time. They cannot use members dues for political purposes. They have a PAC you can voluntarily give to but that is it.

[ltrman61]

What’s wrong cheetah, having trouble backing up your BS. You sound like a lib who resorts to name calling.

[Cheetahcat]

"What’s wrong cheetah, having trouble backing up your BS. You sound like a lib who resorts to name calling."

I backed it up Punk!

[ltrman61]

Come now cheetah, you never backed up anything tiger. Now go back to the classroom and try again. Ask one of your students for help,

[Cheetahcat]

"Come now cheetah, you never backed up anything tiger. Now go back to the classroom and try again. Ask one of your students for help.

What students Sicko??? and learn to read!

[ltrman61]

Why are you ashamed to be a teacher?

[chris_bdba]

What does what I do for a living have anything to do with the fact that the post office has long outlived it’s usefulness? It is none of your business what I do.

[dragnet2]

That's not so. TOP pay step in PS-5 is only $48,851.

Wow...Almost 50 grand a year for walking around sticking letters in boxes?

Right now, the USPS is delivering about 5,000 tons of junk mail daily...Everyday.

I'd like to sue them for forcing me to throw that s**t away on a daily basis.