It seems odd that congress would force the U.S. Postal Service to sink over five billion dollars a year to fund future retiree health care. Yet that is what they did which resulted in reflecting a $740 million in losses; instead of eliminating the current debt and even show a profit.
No government (or private organization) agency is required to set aside money to fund the health care needs of retired postal worked decades into the future; that is to say 75 years in advance over a 10-year period!
This same legislation would constrain the Postal Service by clearing the way to end Saturday mail service, significantly slow down delivery, close more processing plants and eliminate door-to-door deliveries.
The legislation was introduced to modernize the Postal Service, save Saturday mail and repeal the law responsible for at least 80 percent of the mail system’s funding woes. Similar legislation introduced in the House by Rep. Peter DeFazio (D-Ore.) now has 166 cosponsors.
This legislation would allow Postal Service innovation paving the way to attract more customers by taking advantage of email and Internet services. A commission made up of successful business innovators, small business and labor leaders would make additional recommendations on ways the Postal Service could generate new revenue. The bill also would reinstate overnight delivery standards to speed mail delivery and prevent shutdowns of mail sorting centers. Safeguards also would be put in place to protect rural post offices.