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The United States Postal Service has lost $51.7 billion between 2007 and 2014 and has not earned a profit since 2006, according to a report from the Tax Foundation
originally posted by: Kali74
a reply to: neo96
It's not your problem to begin with. You don't pay for it, none of us do except when we buy postage stamps. And the USPS wouldn't have any financial troubles at all if Congress didn't make them pre-fund their retirement, health and insurance obligations ten years in advance.
“Although the Postal Service has not yet received an explicit taxpayer bailout, it has failed to meet its legal obligations for several years in a row,” the report states. “The odds that a bailout will eventually become unavoidable increase as the sea of red ink continues rising.”
The Government Accountability Office (GAO) estimates that the Postal Service’s unfunded liabilities grew 62 percent from 2007 to 2013. The Tax Foundation says it is doubtful that the Postal Service will be able to meet its obligations.
originally posted by: notmyrealname
This problems goes back to Congress and not the USPS. Congress mandated the "pre-funding" of retirement accounts which congress uses as it's own personal slush fund.
USPS Pre-funding Information
If congress were to stop this foolishness and the Postal Worker's Union was not so strong, this matter would not be up for discussion.
Although the Postal Service has not yet received an explicit taxpayer bailout, it has failed to meet its legal obligations for several years in a row,” the report states. “The odds that a bailout will eventually become unavoidable increase as the sea of red ink continues rising.”
FACT: Under current law, Congress has prevented the U.S. Postal Service from making many tough but necessary business decisions on topics ranging from the number of post offices to the frequency of mail delivery to the rollout of innovative new products.
People need to wake up, and get it through their heads. Government has NO BUSINESS having business's.
International postage rates are set by an body called the Universal Postal Union (UPU), an organization established in 1874 and tasked with facilitating the international exchange of mail by requiring participant countries to provide universal postal service at predetermined rates. Currently, the rates set by the UPU for mail entering the U.S. are actually lower than the cost of delivery, effectively forcing the USPS to subsidize foreign mailers.
For most industrialized countries, international rates are based on domestic postage rates, and because the U.S. has among the lowest domestic rates of any such country, “the U.S. is one of the least expensive countries for foreign target countries to mail to, and the financial performance of inbound international mail for the Postal Service suffers.”
According to Amazon Vice President for Global Public Policy Paul Misener, however, the problem is exacerbated by a USPS agreement with China Post to make lightweight deliveries at even lower rates, with the result that “shipments from China to points throughout the United States are often cheaper than shipments entirely within the United States.”