The head of the U.S. Postal Service said in an interview that the organization will default -- perhaps as early as this winter -- unless Congress intervenes.
Postmaster General Patrick Donahoe's comments reflect a well-known reality that the Postal Service is in dire financial straits. The rise of email and online bill-paying has steadily eroded its profits over the years while labor costs soar. Donahoe is calling for a host of changes, including the elimination of Saturday delivery, to close a deficit projected to top $9 billion this year.
But he said Congress needs to step in to help keep the service alive.
"Our situation is extremely serious," he told The New York Times. "If Congress doesn't act, we will default."
According to The New York Times, the service will be unable to make a $5.5 billion retiree health care payment later this month and is expected to run out of money to pay workers and other expenses early next year. This could force a shutdown in delivery.
Averting that outcome doesn't necessarily mean a bailout. One thing the service wants from Congress is a law to effectively nullify a contract prohibition on layoffs -- part of Donahoe's plan involves laying off 120,000 workers, but he needs Congress' help. Some in Congress are also looking at letting the organization recover billions in supposedly overpaid pension payments.
residenttroll wrote: The head of the U.S. Postal Service said in an interview that the organization will default -- perhaps as early as this winter -- unless Congress intervenes.
Postmaster General Patrick Donahoe's comments reflect a well-known reality that the Postal Service is in dire financial straits. The rise of email and online bill-paying has steadily eroded its profits over the years while labor costs soar. Donahoe is calling for a host of changes, including the elimination of Saturday delivery, to close a deficit projected to top $9 billion this year.
But he said Congress needs to step in to help keep the service alive.
"Our situation is extremely serious," he told The New York Times. "If Congress doesn't act, we will default."
According to The New York Times, the service will be unable to make a $5.5 billion retiree health care payment later this month and is expected to run out of money to pay workers and other expenses early next year. This could force a shutdown in delivery.
Averting that outcome doesn't necessarily mean a bailout. One thing the service wants from Congress is a law to effectively nullify a contract prohibition on layoffs -- part of Donahoe's plan involves laying off 120,000 workers, but he needs Congress' help. Some in Congress are also looking at letting the organization recover billions in supposedly overpaid pension payments.
Now this is funny. Socialist Program huh? You freaking idiot. The establishment of the POST OFFICE is in Article.1. Section.8. of the Constitution of the United States of America. You have heard of that Socialist Manifesto haven't you?
residenttroll wrote: The head of the U.S. Postal Service said in an interview that the organization will default -- perhaps as early as this winter -- unless Congress intervenes.
Postmaster General Patrick Donahoe's comments reflect a well-known reality that the Postal Service is in dire financial straits. The rise of email and online bill-paying has steadily eroded its profits over the years while labor costs soar. Donahoe is calling for a host of changes, including the elimination of Saturday delivery, to close a deficit projected to top $9 billion this year.
But he said Congress needs to step in to help keep the service alive.
"Our situation is extremely serious," he told The New York Times. "If Congress doesn't act, we will default."
According to The New York Times, the service will be unable to make a $5.5 billion retiree health care payment later this month and is expected to run out of money to pay workers and other expenses early next year. This could force a shutdown in delivery.
Averting that outcome doesn't necessarily mean a bailout. One thing the service wants from Congress is a law to effectively nullify a contract prohibition on layoffs -- part of Donahoe's plan involves laying off 120,000 workers, but he needs Congress' help. Some in Congress are also looking at letting the organization recover billions in supposedly overpaid pension payments.
Now this is funny. Socialist Program huh? You freaking idiot. The establishment of the POST OFFICE is in Article.1. Section.8. of the Constitution of the United States of America. You have heard of that Socialist Manifesto haven't you?
I didn't say the Post Office was a socialist program....the act of keeping deadbeat employees and overpaid pension payments is a socialist act. The employment program at the Post Office is a socialist program...if literally is putting the Postmaster on his knees. rofllol rofllol
poubelle wrote: Now this is funny. Socialist Program huh? You freaking idiot. The establishment of the POST OFFICE is in Article.1. Section.8. of the Constitution of the United States of America. You have heard of that Socialist Manifesto haven't you?
Sewer & water systems and roads & bridges are socialist programs to these tea baggers...They wanna go back to the good old cave man days
The USPS, no matter what you want to call it, is going the way of newspapers and should NOT be kept on life support. It's suppose to be funded only by postage fees so why not raise the price of stamps to cover the expenses completely? Why not? Because a lot of people would not want to pay close to a dollar to mail a letter and would use alternatives (and the USPS knows this). So instead, they keep stamps reatively low and we all pay the extra to keep them afloat anyway. Gotta love union mentality.
Sewer & water systems and roads & bridges are socialist programs to these tea baggers
Municiple Sewer & water systems ARE socialist programs. A few are run effectivly & efficiently and many are not. Some of the biggest waste of taxpayer dollars can be found in these local governments, many of which were formed just for the purpose of providing water and wastewater systems.
More often now- land developers are the ones installing these systems because they can perform the task for much less money than a water district can. After the private money has payed to install it- it is turned over to a "special water district". Funny how private developers can install these systems for about 1/2 the cost of a water district.
For many communities - it makes sense to have these districts, but they are not necessary. These systems could remain private and in many places they do remain private. Once a water/ sewer district is formed, people tend to stop paying attention to what the district is doing, and that's when costs can get out of hand.
I was in the water treatment plant consulting & design business for 17 years and I have seen districts force taxes on a community that were not necessary. I have seen a water plant cost twice what it should have because people were not paying attention. I have seen government regulations run the cost of projects through the roof.
As a former Water treatment consultant- I can tell you this.....
Once a special district is formed - you lose control of what you will be paying for water and sewer. Your water bills are subject to what the water district wants to do- and how well it is managed.
I own a well and septic tank- so my water and sewer bills are under MY control.
And as a former consultant in that field, that's the way I want it.