Article

2020-07-16 Home Front: Politix

Biden task force backs ‘postal banking' system as experts balk

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Besoeker 2020-07-16 04:23|| || Front Page|| [2 views ] Top

#1 "may not have the expertise nor the required capital" to pull it off.

Perhaps if they handed off their failing mail delivery duties to UPS, FedEx, or Amazon ?

Posted by Besoeker 2020-07-16 04:41|| 2020-07-16 04:41|| Front Page Top

#2 The Postal Times reported on Friday that "over the past 14 years, the United States Postal Service (USPS) has lost $78.5 billion and now has $143 billion in unfunded liabilities. No one should be inspired enough by that performance to allow the agency to handle anyone’s money."

Insofar as it goes, true. But an appreciable chunk of that is the fact that Congress, always willing to bribe voters and let someone else pay for it, pulled this stunt:

"In 2006, Congress passed a law that imposed extraordinary costs on the U.S. Postal Service. The Postal Accountability and Enhancement Act (PAEA) required the USPS to create a $72 billion fund to pay for the cost of its post-retirement health care costs, 75 years into the future. This burden applies to no other federal agency or private corporation.

If the costs of this retiree health care mandate were removed from the USPS financial statements, the Post Office would have reported operating profits in each of the last six years. This extraordinary mandate created a financial “crisis” that has been used to justify harmful service cuts and even calls for postal privatization."

More at the link.

Mike

Posted by Mike Kozlowski 2020-07-16 06:45|| 2020-07-16 06:45|| Front Page Top

#3 Let's get over it boys and girls. The Constitution, Article 1, Section 8 says Congress shall have the power to -

To establish post offices and post roads;

It's says nothing about profitability. Please use Article V to remove that if you believe you know better than the founders in a means of linking the country together that is not subject to private control (see today's media). It doesn't give Congress exclusive control, but says it will establish and run it.

Posted by Procopius2k 2020-07-16 07:33|| 2020-07-16 07:33|| Front Page Top

#4 Change bulk rate to normal rate postage.

That will reduce the number of items, deliveries and handlers...also save trees!

Posted by Skidmark 2020-07-16 09:39|| 2020-07-16 09:39|| Front Page Top

#5 Do I need to put a /real on that?

Posted by Skidmark 2020-07-16 09:40|| 2020-07-16 09:40|| Front Page Top

#6 The ad boys have come up with a great slogan:

"Let us go postal with your money!"

Posted by charger 2020-07-16 19:44|| 2020-07-16 19:44|| Front Page Top

23:48 Clem
23:37 Clem
23:33 Clem
23:26 jpal
23:04 Clem
22:51 Woodrow
22:46 Clem
22:37 DarthVader
22:35 swksvolFF
22:28 Thimp Clusort2035
22:27 DarthVader
22:01 swksvolFF
21:55 rjschwarz
20:42 Frank G
20:40 Frank G
20:35 Frank G
20:31 minnesota
20:28 Clem
19:55 Old Patriot
19:54 Dale
19:46 Dale
19:44 charger
19:42 Old Patriot
19:40 Anomalous Sources