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USPS May Be Unable to Make Payroll in October and Retiree Health Plan Costs, Unions

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posted on Jul, 20 2009 @ 10:56 AM
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USPS May Be Unable to Make Payroll in October and Retiree Health Plan Costs, Unions


www.myfederalretirement.com

"[USPS] top executives are now saying that the USPS will default on a $5.4 billion payment to prefund future retiree health benefits on September 30, 2009. And its government affairs representative are now telling Congressional staff that the Postal Service may not be able to make payroll in October and will be forced to issue IOUs instead."
(visit the link for the full news article)




posted on Jul, 20 2009 @ 10:56 AM
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So it seems the prediction of the crisis in September might have some truth to it.

USPS employees will be paid with IOUs in October, how in the world are these people going to be able to pay for their homes, food and other necessities?...

These workers had to write the White house to address the lack of funding.

I am thinking the Obama administration will use this more in their favour and implement more dictatorial Socialist programs claiming "they will fix this", but we all know exactly what will continue happening.

www.myfederalretirement.com
(visit the link for the full news article)

[edit on 20-7-2009 by ElectricUniverse]



posted on Jul, 20 2009 @ 11:13 AM
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I see it is beginning to hit the Feds. Insolvency here we go!
All while Wall St. is being Backstopped by the taxpayer. This will not change until the people are uncomfortable and on the streets.



posted on Jul, 20 2009 @ 11:17 AM
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reply to post by projectvxn
 



I am afraid you are right, but people will not demand the government to solve these problems without further making the Republic into a Socialist dictatorship.

IMO many people will accept anything that those in power want to introduce claiming "it will solve the crisis" even if it further erodes our rights, and further gives more power to the Socialist government to control us...


[edit on 20-7-2009 by ElectricUniverse]



posted on Jul, 20 2009 @ 11:32 AM
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Oh great! I bet Obama is planning on a government takeover of the post off. . . .oh. waitaminute. They already own it.



These are the people that are going to take over healthcare? They can't even balance programs they already run!



posted on Jul, 20 2009 @ 11:34 AM
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This is just another reason for government "control" of the internet. With taxes on every email sent.

-just you wait!-



posted on Jul, 20 2009 @ 11:46 AM
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Somehow I find it very hard to believe that postal service employees won't be receiving their checks as normal in October.

This looks to be the Union getting antsy about a lack of funds in the retirement plan, and stirring up some controversy to bring attention to it.

Best scaremongering story so far today though



posted on Jul, 20 2009 @ 11:58 AM
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reply to post by Retseh
 


Its not "scaremongering".
It is what it is.
When the freakin Postal Service is hurting, you know that we are in some deep doo doo. The Postal Service, should be the LAST organization to feel the effects of the broken economy.

Edit.

[edit on 20-7-2009 by Common Good]



posted on Jul, 20 2009 @ 12:04 PM
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Originally posted by Retseh
Somehow I find it very hard to believe that postal service employees won't be receiving their checks as normal in October.

This looks to be the Union getting antsy about a lack of funds in the retirement plan, and stirring up some controversy to bring attention to it.

Best scaremongering story so far today though


Remember though, this is the administration that "won't let a good crisis go to waste". They'll do "something" to alieviate this crisis.
-snort-



posted on Jul, 20 2009 @ 09:56 PM
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reply to post by Common Good
 


Your kidding right? The LAST thing to experience trouble? The post office has been hurting for years. Its bloated and in many cases/places extremely inefficent. Think about it. Economy is bad, fewer businesses send out mailers. More people e-mail instead of write letters. Many documents that were once only sent certified mail are now done e-sign and secure electronic transfer. How DOESN'T that spell trouble for the postal service? Not to mention increased competition from companies like FED-EX and UPS. Many businesses don't TRUST USPS to ship their items, because they tend to end up "missing" or heavily damaged and customers really do not like that.



posted on Jul, 20 2009 @ 10:01 PM
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I highly doubt that the federal government will default on paying its employees.

All they got to do is ask Bernake to print more money.


We are in a real mess, and I just don't know what the administration is going to do to really fix this thing.



posted on Jul, 20 2009 @ 10:46 PM
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reply to post by Retseh
 



As another member said, this is not about "scaremongering", it is about the truth of the situation we are ALL in.

The USPS executives are the ones saying they may not be able to pay the employees, and instead will ahve to issue them IOUs.

Please read the information in the article before you start claiming that this is a "scheme by the Union workers"...

What does the Union have anything to do with EXECUTIVES from USPS stating they may not be able to pay their employees in October?...



posted on Jul, 20 2009 @ 10:52 PM
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This is why I say work in a union job young man.
The low level workers need the best health care.
The big shots get limos to go to lunch so its only fare.
And the over production of stamps and printed material is not helping.


[edit on 7/20/2009 by TeslaandLyne]

[edit on 7/20/2009 by TeslaandLyne]



posted on Jul, 20 2009 @ 10:54 PM
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If there's one group of employees you want to agitate, it's postal workers. Should be an interesting month when they start getting IOUs.



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