Post Office Nears First Default in Its History - WSJ.com This may be paid content from the Wall Street Journal, so here is a snippet: "The Postal Service repeated on Wednesday that without congressional action, it will defaulta first in its long history, a spokesman saidon a legally required annual $5.5 billion payment, due Aug. 1, into a health-benefits fund for future retirees. Action in Congress isn't likely, as the House prepares to leave for its August recess. The agency said a default on the payment, for 2011, wouldn't directly affect service or its ability to pay employees and suppliers. But "these ongoing liquidity issues unnecessarily undermine confidence in the viability of the Postal Service among our customers," said spokesman David Partenheimer. The agency says it will default on its 2012 retiree health payment as wellalso roughly $5.5 billion, due Sept. 30if there is no legislative action by then."
They needed to go away ten years ago. There are plenty of privately owned delivery companies that would take up the slack and cut the taxpayers a big break!!
how do you figure every private company charges higher fees and going private would completely get rid of rural daily delivery................without the post office as a base line there would be no limits on price increases in the private sector for shipping
Postal service is one of the cheapest - if not the cheapest - letter carrier in the world. Their flat rate package prices and logistical system I've found are better than dealing with UPS or FedEx. They need to hike their prices to be competitive and trim a lot of the fat out to become efficient. They still have massive employee resources with a lazy government mentality. It's a pity to see the postal service struggle. I'd like to see them clean it up, get efficient, and stay in the race.
Then the user would pay the fees, not those of us supporting the Postal Service with our tax money. The Postal Service is less expensive because you and I subsidize it with our tax money. It is a government institution, efficiency isn't in the game plan.
serves 'em right. I was at the post office this afternoon. 1 person working the counter, 3 people i could see in the back laughing and joking drinking coffee. about 15 people in line waiting to get helped. If i ran my business the way the post office ran theres, i would be out of business in short order.
Yeah, in the roundabout way of tax breaks they get as well as subsidized loans. Agree, and totally get that. But in terms of tax breaks and such that other private carriers get I don't necessarily know it's any more a significant hit. It could be; I'd like to see how they compare.
Seems to be the individual PO.. Oregon City is a center of employment for the Unemployable while West Linn PO is a great place to do business. BTW; When the Post Office goes defunct I will send messages by the monkeys that fly out of my butt.
The USPS is also happens to be the single biggest employer of Vets. Taking that into consideration, does anyone's opinion change? It did change mine.
The Postal Service receives no tax money. It's financial struggles are because of a Congressional mandate that they prefund 75 years worth of retirement benefits in a 10 year period. Fedex or UPS doing that? Will they delivery a letter anywhere in the US for 45 cents? Without the mandate, the USPS is in the black. It's a system that works but is being cannibalized in order to make the payments. There is still a need for postal service in spite of email. Even the big shippers often use it for final delivery. We are in trouble if it disappears.
The USPS is the envy of the rest of the civilized world and as an individual you don't pay squat in tax support. No question there could be improvements but they are head and shoulders above the private delivery services in cost and service. UPS doesn't like my rural driveway and leaves my wifes coldpacked meds tied to the bushes at the entrance assuming we will see it in the next couple days and fakes the delivery signature. FEDEX seems to stop and run over most packages before droping them off. I sell on EBAY and in hundreds of transactions have only a couple shipping related problems. Large items are probably better going UPS but anything else you can't beat USPS.
Time to let it go.Like so many other gov programs that don't work it just lingers on and on.Like so many unionized groups they have made promises they can't fulfill.
+ 1 All you guys that live in the middle of nowhere will be lucky to get mail/packages once a week if the USPS goes belly up. The private carriers simply won't do business in your areas.
If private companies were legally allowed to deliver letters, they would be cheaper and better than the USPS. Unfortunately, USPS is a regulated monopoly.
As the most basic means of communication between citizens, I believe the USPS is a worthy piece of infrastructure the government should be charged with managing, much like our road system. We can argue about how small we want our government to be, but for me that line is just past the post office. I would like to see it get lean and efficient, as I do believe it's extremely bloated and lethargic at this point. If we were paying for the service via taxes this would change my opinion.
Let's not let conservative dogma over ride common sense. No private carrier is going to deliver letters in rural areas cheaper than the USPS on a daily routine. They already use contract employees for the final delivery. This is a service a civilized society should be proud of and maintain.
I believe that it trimmed the fat and waste from it, like all government programs have, it could be self sufficient and maybe make a few dollars. With first hand experience I can tell you they spend money like it is endless from what I have dealt with.:twocents:
If a private company can do it better, let them die. I don't see paying .44 - .50 to mail a letter as being a major expense so if a private company can do it for that, let them. The Federal Government is essentially a giant parasite in most ways, but mail delivery is something they SHOULD be good at as they fail at just about everything else.
thats not true at all the postal serrvice hasn't received tax money since the 1980's they do get government loans and subsidies on things like vehicle registration and sales tax it like your pulling statements out of your arse