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The Post Office sucks because in right wing "Reagan is God!!" land, everything that the government does (except the military), has to be a complete disaster, whether it is in fact a disaster, or not. It's called "an agenda".
The government doesn't run the post office. Not that a reply like yours actually deserved a reply but I thought maybe there would be a small chance you might want to educate yourself on how the post office works.
It's the way the payments are structured. They have to fully pre-fund them, something private businesses don't.
Whether it should be required of all businesses is another argument.
We do. I'm pretty sure although I am not 100% sure that it is mandated by the government. We have to issue statements concerning how much was put into the fund every year.
We do. I'm pretty sure although I am not 100% sure that it is mandated by the government. We have to issue statements concerning how much was put into the fund every year.
Many don't. Even the MD Pension System which I belong to doesn't any longer. A short 6 years ago it was funded at about 105% of projected obligations. Since then it's dropped to 60% after the current Governor raided it to balance his General Fund budget. In fact, my contribution went from 6% to 8% with the additional money going to the General Fund instead of the pension plan. The same thing was done with the Highway User taxes (gas tax) and various other supposedly set aside revenues.
Many don't. Even the MD Pension System which I belong to doesn't any longer. A short 6 years ago it was funded at about 105% of projected obligations. Since then it's dropped to 60% after the current Governor raided it to balance his General Fund budget. In fact, my contribution went from 6% to 8% with the additional money going to the General Fund instead of the pension plan. The same thing was done with the Highway User taxes (gas tax) and various other supposedly set aside revenues.
Yes, it's funny how governments will force private businesses to do things they refuse to do themselves.
USPS beats UPS for small packages in quite a number of ways from cost to more timely delivery. I notice that Amazon is now using them a lot more for shipping. FedEx (and maybe UPS) have a delivery plan where they pick up and deliver to USPS for shipping.
"Operationally speaking, the USPS nets profits every year. The financial problem it faces now comes from a 2006 Congressional mandate that requires the agency to “pre-pay” into a fund that covers health care costs for future retired employees. Under the mandate, the USPS is required to make an annual $5.5 billion payment over ten years, through 2016.These “prepayments” are largely responsible for the USPS’s financial losses over the past four years and the threat of shutdown that looms ahead – take the retirement fund out of the equation, and the postal service would have actually netted $1 billion in profits over this period." The U.S. Postal Service | Need to Know | PBS
This is called being responsible and not kicking the can down the road. The post office has something like 500K employees and as their business declines the amount of people they will employ and their revenue will continue to decline. We have enough issues with pensions as it is, we don't need anymore.
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