Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-22-2014, 01:35 PM
 
409 posts, read 510,900 times
Reputation: 442

Advertisements

Although the USPS is an independent entity, it is regulated by Congress. Due to this oversight, Congress requires the USPS to lend $5.5 billion to the US Treasury annually by purchasing “special issue” Treasury bonds

In a nutshell, the USPS has a $15 billion credit limit–and it has been forced to borrow $13.3 billion to continue operating. The USPS has also not made its required $5.5 billion payment back to Congress for two years. But, what has happened to the $5.5 billion annual installment “fund” that has been appropriated throughout the years? That money is no more. Rather than investing it or saving it for “a rainy day” (like today), Congress has already spent the money. Same story second verse.

Again, Congress has proven itself completely inept and completely insatiable when it comes to spending. Furthermore, if Congress had been doing its job of “oversight’” how did the USPS get into this bind in the first place?

Everyone is calling the USPS the slow, outdated service…But, what are we calling the US Congress?
Reply With Quote Quick reply to this message

 
Old 05-22-2014, 05:51 PM
 
41,815 posts, read 50,920,524 times
Reputation: 17863
Quote:
Originally Posted by Emanon13 View Post
Although the USPS is an independent entity, it is regulated by Congress. Due to this oversight, Congress requires the USPS to lend $5.5 billion to the US Treasury annually by purchasing “special issue” Treasury bonds
This would be the pension fund you are referring too? Considering the PO employs about half a million people and their business is in decline and will continue to decline as first class mail declines (e.g. with less employees in the future they will not be able to meet pension obligations through contributions from existing employees). Don't you think it's prudent it's adequately funded. If this pension fails 20 or 30 years down the road who's going to be on the hook for that?

We can always look at other public and private pensions that are doing so well......
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6. The time now is 09:40 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top