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US Postal Service may default on Aug 1

Discussion in 'Off Topic' started by ATCclears, Jul 18, 2012.

  1. ATCclears

    ATCclears Seattle area, WA Well-Known Member

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    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 default—a first in its long history, a spokesman said—on 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 well—also roughly $5.5 billion, due Sept. 30—if there is no legislative action by then."
     
  2. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    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!!
     
    Glockman19 and (deleted member) like this.
  3. Schwabdl

    Schwabdl Hillsboro Active Member

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    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
     
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  4. SonicBlue03

    SonicBlue03 Snohomish Well-Known Member

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    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.
     
    Doctnt, locobob, TCOV and 7 others like this.
  5. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    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.
     
  6. parallax

    parallax eugene, or-gun Bronze Supporter Bronze Supporter

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    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.
     
  7. SonicBlue03

    SonicBlue03 Snohomish Well-Known Member

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    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.
     
  8. PaulZ

    PaulZ Oregon City Active Member

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    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.
     
  9. jdub75

    jdub75 PNW Well-Known Member

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  10. rkoreis

    rkoreis Vancouver, WA Member

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    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.
     
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  11. TCOV

    TCOV OLYMPIC PENINSULA Active Member

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    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.
     
  12. LyleLovett666

    LyleLovett666 Seattle Active Member

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    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.
     
  13. benja455

    benja455 Seattle, WA Member

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    + 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.
     
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  14. mat33

    mat33 Portland, OR Active Member

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    If private companies were legally allowed to deliver letters, they would be cheaper and better than the USPS. Unfortunately, USPS is a regulated monopoly.
     
  15. Joe Link

    Joe Link Portland, OR Well-Known Member Staff Member Lifetime Supporter 2015 Volunteer 2016 Volunteer

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    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.
     
  16. Joe Link

    Joe Link Portland, OR Well-Known Member Staff Member Lifetime Supporter 2015 Volunteer 2016 Volunteer

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    I'd be all for opening up that market, and every other market with a government monopoly.
     
  17. TCOV

    TCOV OLYMPIC PENINSULA Active Member

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    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.
     
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  18. Glockman19

    Glockman19 Hillsboro Active Member

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    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:
     
  19. Burt Gummer

    Burt Gummer Portland Completely Out of Ammo

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    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.
     
  20. Schwabdl

    Schwabdl Hillsboro Active Member

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    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