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To: muawiyah
The USPS had a 7 billion dollar loss in the last fiscal year. Where did the money come from to fund that loss? I count borrowed money as a subsidy because the USPS couldn't get that kind of funding unless they were a monopoly that relies on the implicit good faith and credit of the United States.

Despite cost reductions against the fiscal 2009 plan of more than $6 billion and actions to grow revenue, the Postal Service (USPS) projects a net loss of more than $7 billion at fiscal year-end. The organization’s financial situation is compounded by its obligation to pay $5.4 billion to $5.8 billion annually to prefund retiree health benefits. This requirement, established in the Postal Accountability and Enhancement Act of 2006, is an obligation that no other government agency has to pay.

153 posted on 02/03/2010 8:58:34 AM PST by vbmoneyspender
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To: vbmoneyspender
It's an $80 billion per year company, more or less. A less than 10% loan is pretty much within the range of such things.

BTW, if loans are subsidies then what's your mortgage?

157 posted on 02/03/2010 9:00:01 AM PST by muawiyah ("Git Out The Way")
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