USPS on the brink of collapse unless Congress intervenes

G

Grandluxe

Postal Service Is Nearing Default as Losses Mount
By STEVEN GREENHOUSE
Published: September 4, 2011

The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances.

“The situation is dire,” said Thomas R. Carper, the Delaware Democrat who is chairman of the Senate subcommittee that oversees the postal service. “If we do nothing, if we don’t react in a smart, appropriate way, the postal service could literally close later this year."

http://www.nytimes.com/2011/09/05/b...uggles-to-stay-solvent-and-relevant.html?_r=1

No more mail?
 
Quote from Grandluxe:

Postal Service Is Nearing Default as Losses Mount
By STEVEN GREENHOUSE
Published: September 4, 2011

The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances.

“The situation is dire,” said Thomas R. Carper, the Delaware Democrat who is chairman of the Senate subcommittee that oversees the postal service. “If we do nothing, if we don’t react in a smart, appropriate way, the postal service could literally close later this year."

http://www.nytimes.com/2011/09/05/b...uggles-to-stay-solvent-and-relevant.html?_r=1

No more mail?
More...


Can't they just jack up postage, or is it terminal?
 
no need to worry as long you have posters like convertibility.


Covertibility

Registered: Aug 2003
Posts: 3387



05-29-11 01:00 PM
Facts and figures about your Postal Service


0 — tax dollars received for operating the Postal Service


It's been repeated a couple times on this site yet those with the walnut sized gland in their heads probably still can't factor in this reality.

Edit/Delete • Quote • Complain

niceneasy

Registered: Dec 2005
Posts: 757



05-29-11 01:17 PM

Quote from Covertibility:

Facts and figures about your Postal Service


0 — tax dollars received for operating the Postal Service


It's been repeated a couple times on this site yet those with the walnut sized gland in their heads probably still can't factor in this reality.
Did you read the article chowderhead?

"The USPS has stayed afloat by borrowing $12 billion from the U.S. Treasury. This year it will reach its statutory debt limit. After that, insolvency looms.

http://www.elitetrader.com/vb/showt...perpage=10&highlight=post office&pagenumber=2
 
Quote from Larson:

Can't they just jack up postage, or is it terminal?
More...
or

one gov't entity is helping to destroy another entity i.e. p.o.. social security is soon going direct depost for all checks. maybe the decision should be reversed. (just joking)

any other bright ideas from larson besides raising prices to further eliminate themselves from the market for physically delivering mail?
 
A model that spends other peoples money (taxes) has less incentives to be efficient.

Sell the post offices.

The government took on the burden to provide postal services because there was no one else that could take it on (build the road, etc).

Give up most of it now. It's a bankrupt model.
 
Quote from athlonmank8:

Get rid of welfare.

Also, increase postage for advertisements(junk mail) by 5000 % :)
More...


the 1st one is politically impossible.
the 2nd one is senseless because they would raise much less revenue then currently and expenses would not drop in proportion.
 
Quote from zdreg:

or

one gov't entity is helping to destroy another entity i.e. p.o.. social security is soon going direct depost for all checks. maybe the decision should be reversed. (just joking)

any other bright ideas from larson besides raising prices to further eliminate themselves from the market for physically delivering mail?
More...


Lol. I guess they will just have to close up shop then.
 
Quote from athlonmank8:

Get rid of welfare.

Also, increase postage for advertisements(junk mail) by 5000 % :)
More...
+1

The Post Office refuses to set up a simple system for opting out of junk mail. It's just politics, it would reduce their work by a significant amount and that would be bad for the workers. A whole forest is cut down and mailed to people that don't want it every year. Tell me that's worth it, no really, keep a straight face and tell me this culture should continue creating jobs at the expense of both the environment and the vanishing taxpayer...

My question is: would we miss the Post Office if it went away tomorrow? What, the gal that delivers my mail is interesting? Not particularly... I can't get things without the USPS? I almost automatically toss out everything that I get from them, it's either junk mail or a bill that I paid already electronically... I couldn't buy stuff on Amazon and get it delivered? Are you kidding, the tracking system is far better with FedEx or UPS, I'd rather noboby shipped with the USPS actually...
 
You must log in or register to reply here.
Back
Top