Free Republic

Just when things seemed to be looking up for the Post Office, more bad news comes to darken their doorway. They may be turning a profit in the next couple of quarters, but there’s a financial dark cloud looming on the horizon. Like many state and municipal governments around the country, the USPS offers a generous retirement plan for its workers. Very generous. It includes guaranteed health care coverage for the rest of your life. But a new report at Government Executive reveals a recent audit showing that the pool of available money to pay for those benefits is...

Around $66 billion in the hole I don’t think there is anyone who looks at the issue of entitlements in the US who is not gravely concerned about the direction we are on. Economists of all stripes, damn near everyone in D.C. and a long list of academics have all highlighted the problems. But the same groups that are raising red flags are misleading us on when and how this problem will affect us. They say/think it is a tomorrow problem. Actually it is hitting us today. I want to focus on the Federal Employees Retirement System (“FERS”). This is...