Skip to comments.Postal Service Losing $42,335,766 Per Day
Posted on 08/09/2012 3:41:48 PM PDT by tsowellfan
The U.S. Postal Service has been losing an average of $42,335,766 per day in fiscal 2012.
On Thursday, the service reported a third quarter (April 1-June 30) net loss of $5.2 billion, bringing its fiscal year-to-date net loss to $11.6 billion.
There were 274 days in the first three quarters of fiscal 2012. Thus the Postal Service has lost, on average, $42,335,766 per day in this fiscal year...
(Excerpt) Read more at cnsnews.com ...
I would be perfectly happy with once a week delivery. Five out of six days it’s just junk mail anyways. All my bills come to my email.
Most of the loss could be eliminated if the Congress would drop the requirement to prefund retiree health benefits for workers not even hired yet. Congress has used the USPS as a cash source supporting their big-spending ways.
I know - let’s put the government in charge of health care!
The USPS is considered a “private corporation” but congress will not allow the USPS to compete like a private corporation. Every time the USPS tries to implement other revenue generating services, like other private corporations, congress gets yelled at by FedEx, UPS, et. al. and Congress makes the USPS shut down the competing services. If the USPS is a corporation then remove your congressional strangle hold from around the throat of the USPS and let them try to succeed and if FedEx et al don’t like it, tough!
The Postal Service, specifically in urban areas, is a basically a job program for ‘people of color’. Congress will NOT let the Postal Dept fail out of fear of riots.
Too many ‘people of color’ are in an imaginary middle class because of government jobs like the Post Office.
No government jobs, ‘people of color’ become restless.
Heres a better idea.
Sell it off.
Privatize the USPS no strings attached.
My interaction with the USPS is limited mostly to moving junk mail from the mailbox to the recycling bin.
A trivial amount of mail is really worthwhile these days.
That’s why they need to go to 3 days a week delivery.
M-W-F or if there’s a holiday during the week, deliver on the Saturday.
The first time I received one at my place of business, I called the Post Office to ask about it, before wasting my time looking through the perimeter security camera logs.
Talk about junk mail on steroids!
At least the USPS performs a service, none of which the aforementioned do!!!
“The Postal Service, specifically in urban areas, is a basically a job program for people of color. Congress will NOT let the Postal Dept fail out of fear of riots.
Too many people of color are in an imaginary middle class because of government jobs like the Post Office.
No government jobs, people of color become restless.”
Now I don’t live in an “urban area,” and yet virtually all of the USPS “employees” are “people of color,” who collectively have the IQ of an amoeba and to make up for that deficiency, are rude and hateful to the postal customers. The FedEX and UPS drivers are here several times a week and they are always polite and efficient. Not so for the mail service. Like others have posted, spin it off, and let it run as a truly a “private corporation.” All this happy horse crap about too much money going to the government to cover future pension benefits is a ruse. The USPS is a dying business as it is set up, since it’s there primarily for the benefit of it’s workforce. An example of a welfare program masquerading as a business.
Too bad you don’t have my mail carrier. He’s dependable, friendly and goes out of his way to accommodate his customers. Whatever one might think of the level of pay, postal work is generally not easy, particularly on the evening and midnight shifts when most of the mail is moved- those parcels and sacks of mail do not sprout wings and move themselves. Most postal employees have to work up a good sweat to receive their “welfare”.
Quiz: How much is the Energy Department earning every day? FDA? Food stamp administration? All of them required by the Constitution unlike the postal service, right?
My guess is that the USPS work rules are as onerous or more so than any of their competitors. The idea that postal workers may have to “work up a sweat” during the course of their duties should be a good thing. As for your mail carrier being friendly, any group has a few good workers. I think if you polled people you might be surprised that most folks would not share your enthusiasm for their letter carriers.
Rasmussen ran a poll a few years ago which showed the public had a generally favorable opinion of the postal service. I don't doubt a bit your bad experiences, but as a whole, I'd say most postal employees, particularly the long-term career employees, are generally a decent lot.
The big difference is it is financed through user fees and not taxes.
The Republicans in 2006, who'd pledged to not raise taxes, got around their pledge by passing along a $5.3 billion bill to USPS to pay to help balance the budget. The thought was USPS could simply go out and raise postage to pay it off.
They forgot to tell the Postal Rate Commission that it was OK to charge off this $5.3 billion bill (For future ~ meaning "75 years in the future' ~ retiree's medical insurance), so they didn't.
USPS had been operating for several decades under a financial regime that kept it's expenses within 2% of revenues ~ to meet the legal requirement that it break even with no profit or loss.
$5.3 billion didn't exactly fit in anywhere so they borrowed the money to pay the bill.
Actually, I can live with whomever delivers my mail. What I cannot abide is the USPS bleeding $42 million a day! Just what do you think one of their competitors would do if faced with the same business situation? It’s just not o.k. to dismiss the problem pointing to the Constitutional requirement for a postal service. FedEx or UPS would do whatever it took to preserve their business. The same should ascribe to the USPS. It’s all about what to do about the workforce, not what needs to be done to become solvent. Let’s face it, the mail volume is declining rapidly. As someone said earlier, “I go to the mailbox and then directly to the garbage can.” The day of the mailed monthly statement is going away. The bulk mail “industry” is going to go away too. What else is there? I now get some monthly magazines on-line and soon there won’t even be any hard copy magazines or newspapers available which is a good thing on many levels including not cutting down trees to print the stuff in the first place.
I have no doubt you have trouble with your letter carrier. GIve me your address and I know just the people to call to make sure you no longer get delivery service so you won't be bothered.
I know some other people to call who might be interested in your peculiar racial theories too.