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Their true operating loss was not that bad, as Congress , artificially, is forcing them to book billions extra, to play "catch up" on pensions, and the amount..no matter what it is..is an arbitrary one unrelated to actual fiscal year operations.
Really? REALLY? You are really are serious, arent you?
So, let me get this straight .... you don't believe that retirement benefits are legitimate costs of doing business, but are "artificial" ?
How's that work? Oh, let me guess, .... The liberal way of business math is, just ignore the pension benefit liability, and let some other government welfare program take care of them retired postal workers? Got it.
Yes, BUT, Hilly is a woman and her supporters want to make history as they did with Obama. Bern is toast and he knows it. He is just playing for time as the Hilliary steam roller catches up with him! Just like in the cartoons!
The rate of repayment is artificial, and no government entity or private corp I know of, is doing it as fast. Nor would they report earnings without saying what adjusted earnings were before the "true up".
USPS is being told to fund them for obligations well past current workforce requirements..i.e. staff not yet HIRED. That's artificial.
No, its called proper business management planning for an entity that apparently ignored the liability before, hence the need to " catch up" and "repay"!!
You do realize that the only retirement funds that have an opportunity to "grow", and by doing so, able to satisfy the liability in the future, are funds that are actually FUNDED and INVESTED?
Every time you all respond, only builds my case against you.
It is important, as it shows the "catch up" is hiding an essentially breakeven operation, so once finished, they are financially stable as is.
I do not however want them adding banking functions, as I want them staying in their niche.
The USPS has currently 100 Billion in unfunded pension liabilities. Break even point? How many first class stamps would it take to brake even on $100 Billion, Bob? How many letters and letter carriers, Bob? And what about THEIR pensions?
Do yourself a favor ... familiarize yourself with the "rule of holes". The rule says, when you find yourself in a hole, the first thing you should do is STOP DIGGING.
My proposal would be to privatize the post office and then let them provide banking functions if they wish. The only reason the government controls it is that at the time it was the only way to transfer information. Now there are plenty of other ways. It no longer needs government control.
Not a bad idea. The constitution only requires the federal government to provide postal roads. Even those could be privatized. UPS and Fed Ex already put the USPS to shame. We ought to remove the shackles of government and let prosperity and competition reign free.
No, its called proper business management planning for an entity that apparently ignored the liability before, hence the need to " catch up" and "repay"!!
You do realize that the only retirement funds that have an opportunity to "grow", and by doing so, able to satisfy the liability in the future, are funds that are actually FUNDED and INVESTED?
Every time you all respond, only builds my case against you.
USPS almost operates like a non-profit and thus forcing them to cough up billions of dollars is ridiculous. It's a play by Republican congressmen to throw a wrench into their operations so then when they fail they can hawk the talk about how awful having a government is.
People addicted to payday loans and those who can't open a regular checking account at a regular bank (i.e. those with horrible credit and or those who have stiffed banks for bad checks and overdrafts) are not keeping anyone afloat, including themselves. These are the folks Bernie wants to assist with loans and check cashing, which is mighty generous, thoughtful and compassionate of him, except of course for the rest of us that will suffer the costs for the inevitable defaults and subsequent scams that will follow.
$10 an hour was good money not long ago. The Fed has saw to it that it no longer is. If you are making $10 an hour and your transmission goes you can quickly fall behind......you miss work or you need to come up with a couple thousand dollars pretty quick.
Yes there are some who are irresponsible but it's also irresponsible to paint everyone the same. Where were you when you had to pay out billions for the scams on Wall Street? We have had many threads on that and there are maybe 2-3 people complaining about that. They continue to this day.
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This is why socialism ALWAYS FAILS, because eventually, you run out of other people's money to be generous with. And right now, we barely have a middle class left to keep picking up the tab for all of the countless do-gooder liberal programs already killing us.
Q.E. was the largest socialist program ever hoisted upon the world but few complained about it. Most had no desire to undergo the short struggles they might have went through without it.
People LOVE Socialism when it benefits them.
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And they (liberal socialists) NEVER LEARN. ObamaCare is a disaster already. Social Security is in trouble ... Medicare and Medicaid are disasters ... the VA is an unmitigated nightmare. The list goes on and on. Whenever government controls a thing, that thing quickly becomes an insolvent nightmare, while the product delivered becomes trash.
While they most certainly had a hand in it the government did not control Wall Street and look at the mess they made. The government didn't control G.M. or Chrysler yet they cost us billions of dollars.
I find it so odd that it's understandable to give away billions of dollars to prop up GM but it's socialism and wrong to help make sure that the struggling parent can get $1500 to fix their car so they can continue providing for their family.
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From fighter planes that cost billions and are unsafe to fly (never mind incabable of defeating an enemy) to $700 hammers, to a failed education system, if you want a totally worthless result, with the highest cost imaginable, just let Uncle Sam manage your hotdog stand, and you'll be broke, and your customers will be hungry in no time at all.
Now please LEAVE US IN PEACE, and go destroy yourselves elsewhere!!
The problem there is you. Now I say you in the general sense, but the problem there is those of you who continue to vote for those who make the mess. The programs are NOT the problem. The problem is those running the programs.
You complain above about Social Security but it was John Kasich that lead the effort to steal from Social Security to "balance" the budget. Now many crow about how great Kasich would be as president. He along with many others should be tarred and feathered.
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