5:16 am, July 11, 2014

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  • It is easy to see the source of USPS' problems
    Liam Skye
    The sheer stupidity and ignorance of both Ross and Farenthold are staggering. That the chairman of the Oversight and Government Reform Subcommittee on Federal Workforce does not know that there is a difference between the retiree health benefit fund and the pension funds is shocking. How is he to chair this committee when he has not grasped the most simple facts? Ross has been trying to peddle the nonsense that USPS takes taxpayer money for years. Unfortunately for Ross, who swims in the shallow end of the intellectual pool, it simply is not true. Those of us who don't flounder with Ross realize that the $15 billion USPS was required to borrow from the Treasury (only to immediately lend $13 billion of it right back to the Treasury, leaving a net $2 billion borrowed to pay for postal operations) is offset about one hundred and forty times over by the fact that USPS is also required to "invest" the $280 billion in its pension funds at the US Treasury at a return that can only be described as abysmally below market returns. The fact of the matter is that USPS is subsidizing the government in this manner to the tune of billions of dollars a year. Until these Congressman come up to speed and learn to find the wheat among the rhetorical chaff, the American people's postal service and the enormous assets in its pension funds is at risk of being taken away and given to extremely rich investors. There are hundreds of billions of dollars as the prize in his game and idiots like Ross and Farenthold don't even deserve a seat at the table.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Not really...
    Mc
    Those pensions will be lost just like everyone else's. Cyprus bank runs are just the beginning. The Bank of America holds more credit default swaps (90 trillion) than the entire GDP of the entire world!
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • So, among the thorns we find...
    Liam Skye
    ...another really humongous honking thorn. Alas.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Fiscal Year data references
    daylilytrader
    Federal News Radio needs to double check the Fiscal Year references in this article. They are out of sync with the current events or stale fiscal data is being cited.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Not only that...
    ImThinking
    ..but, A. The Post office is still way too top heavy. There are countless "supervisors" in glorified clerk jobs walking about doing very little (or nothing at all) just to fill quotas. B. They are still forcing their managers to hand out overtime where it's not needed. C. In the current drive to "right size" they are moving mail processing from their most efficient plants to plants that are extremely poor performers. The fed needs to get off their butts and look into how much waste there continues to be under this failure of a PMG.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Saving money
    postalpat
    The postal service in my town is saving money big time. They now wait till the paper towels and toilet paper has run out and then they send in the order that takes days to fill. Therefore they save pennies every day because you have to wipe your hands on your pants and well we won't talk about the other.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Rep. Gerry Connolly (D-Va.) and Sen. Claire McCaskill (D-Mo.)
    Mc
    To Rep. Gerry Connolly (D-Va.) and Sen. Claire McCaskill (D-Mo.), if your constituency's main concern is Saturday mail delivery then its time for you both to get new jobs. They're still going to deliver packages on Saturdays!
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }