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Post Office to End Saturday Delivery Starting August 1
Ms Sans Serif
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[quote:Chrit:MV8yMTMwNDgyXzM1OTU5MDE5XzZCQzVERDU4] The post office makes money, when congress mandated in 2006 that the post office had to pre-fund healthcare for every employee for 75 years in to the future, including putting money away for people yet unborn and that the post office only had 10 years to put 75 years of funding away at a cost of $5.5 billion a year, congress had a goal. Congress knows the post office makes money so they are trying to break them and federalize the post office so they can use the money and TAX you to run the post office. the reality of the mandate also does not take in to account technology and assumes postal employee number will increase at an ever rising rate, the post office is fighting back and something like 5 out of 9 jobs are going to be cut so they can re-do the retirement numbers. One more time, congress wants to take over the postal service & spend the money the postal service makes and Tax you at the same time to run the postal service and still make you buy stamps to mail things. Congress sees dollar signs and a huge money pool they can squander. http://my.firedoglake.com/mmonk/2011/08/19/the-pre-funding-mandate-bringing-down-the-american-postal-workers-union/ [/quote]
The U.S. Postal Service plans to stop delivering letters and other first-class mail on Saturdays beginning Aug. 1, although packages will continue to be delivered.
It will mark the an end of an era for the agency, which started Saturday delivery in 1863.
The Postal Service has been borrowing billions of dollars from taxpayers to make up for shortfalls caused by a 2006 congressional mandate, under which it has to pre-fund healthcare benefits for future retirees. Technological advances have also led to a decline in first-class mail, which most consumers use to stay in touch and pay bills.
The situation turned particularly dire last year -- the agency twice defaulted on payments totaling $11 billion, and it exhausted a $15 billion line of credit from the U.S. Treasury.
link to money.cnn.com
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