Both the news media and a number of politicians have claimed recently that the U.S. Postal Service (USPS) is in "crisis," and that it is necessary to lay
Picture a day when the only mail you can send will be through privately owned mail services. Have you had to post a letter with FedEx lately? Last time I inquired it was 4 dollars or more,
Almost all of the postal service’s losses over the last four years can be traced back to a single, artificial restriction forced onto the Post Office by the Republican-led Congress in 2006.
At the very end of that year, Congress passed the Postal Accountability and Enhancement Act of 2006 (PAEA). Under PAEA, USPS was forced to “prefund its future health care benefit payments to retirees for the next 75 years in an astonishing ten-year time span” — meaning that it had to put aside billions of dollars to pay for the health benefits of employees it hasn’t even hired yet, something “that no other government or private corporation is required to do.”
As consumer advocate Ralph Nader noted, if PAEA was never enacted, USPS would actually be facing a $1.5 billion surplus today:
By June 2011, the USPS saw a total net deficit of $19.5 billion, $12.7 billion of which was borrowed money from Treasury (leaving just $2.3 billion left until the USPS hits its statutory borrowing limit of $15 billion).
My insight continued:
Sitting back and letting the voted out 2006 congress bankrupt the post office as a way of breaking one of the only public held, national ly connected service job suppliers and allowing it to be chocked to death just to hand over more of our money, citizen control and ownership to the few that own the controlling share of most major industries is crazy.