USPS Fails to Make $5.5 Billion Payment
Washington, D.C. – (September 30, 2011) Rep. Justin Amash (R-MI), Vice Chairman of the Subcommittee on the Federal Workforce, U.S. Postal Service, and Labor Policy, issued the following statement on the U.S. Postal Service’s default:
“Later today, the Postal Service will default on a $5.5 billion payment owed to the federal government. This payment, required by law, would reduce the Postal Service’s massive unfunded liability for retiree health care benefits.
“The Postal Service has had multi-billion dollar deficits since 2007, and it is projected to have a $10 billion deficit this year alone. Its business model is unsustainable and has not addressed market changes, such as declining mail volume. Additionally, the Postal Service’s $15 billion statutory debt limit with the Treasury has been reached.
“Congress can act now to give the Postal Service the same flexibility its private competitors have. I support equipping the Postal Service to compete, not a taxpayer-funded bailout. I look forward to working with my colleagues on the Committee on Oversight and Government Reform to restore solvency to this historic American institution.”
source: Office of Congressman Justin Amash
Congressman Dennis Ross (R-FL) posted this information on the ” Committee on Oversight and Government Reform” website:
“Remember me when I seek higher office. Vote Republican in 2012 and help us free the world of union labor.”
Have you tried heading your ass down to wall street talking all that BS and see what happens…LOL
I’ll remember your ass.
So if you meet me have some courtesy have some sympathy and some taste…love that song…or i’ll lay your soul to waste.
Where is ED ROYCE by the way?
I am fighting for truth, justice and liberty. The great Satan has always been the postal worker. Remember me when I seek higher office. Vote Republican in 2012 and help us free the world of union labor.
Hi my name’s Darrell, Im from congress and im here to help….NOT!!
Pathetic is right
You need to get out more Gturd M Lee,
READING THE COMMENTS THERES A REAL DISCUS FOR ISSA/ROSS
REPUBLICANS AND POSTAL MANAGEMENT
Down with the Republican party! 2012
You DemocRATS are SOOOOOOOO pathetic!
we do need 5 day delivery….
give us and early out with incentives. 6 years added, and $50k…. i am gone.
These pathetic politicians NEVER point out the reak reason’s for Postal service problems. The 25 billion dollar Charge to Civil service and FEHRS to pay for IMILTARY pensions of those who worked for years in the Navy etc. and their military pension being paid by the USPS since 1981 etc. Then there is the overcharge of 75 and 7 BILLION dollars by OPM to the Civil Service and FEHRS fund by OPM. Not to mention NO ONE in any other government agency prefunds any portion of their healthcare.Also 76 percent of private industry does not do this either and those that do have twice as long and half the rate to pay than does the USPS..
What does DOIS say we should do?
I would love to hang around for more BS but I wish someone would get off the pot and offer us old timers a great package so we can retire while we still can enjoy some of our short left life. My vote is for a years salary plus 5 years…sweet thought
one other thing peon…the fact that you and other bloggers here believe that the dems are any better than the repubs proves beyond any reasonable doubt that you people have substituted reality for fantasy.
btw…your screen name is appropriate given the intellect you have displayed!
keep drinking the kool-aid peon, that link proves you wrong, but hey…why let facts get in the way of a good lie!
The Dems went along with everything Dumbya wanted the whole 8 years. Afraid Fox “News” idiots would call them traitors and socialists.
Postal girl. The republicans controlled the house back then and had 7 or 8 no votes on the PAEA bill. The dem minority voted 100% (including nancy p)in favor axcept for the one congressman that was not present…….
Glad I got my $5.5 mil retirement before this $hit hit the fan !
Good luck to all you suckers, you’re gonna need it.
And now for some more Beef Wellington.
Geez Louise , ISS – A – MASH !
I love reading all the comments for the entertainment value. Long story but wound up a PTF carrier in the mid-west after many years of clerking. The biggest waste of labor is “park and loop” delivery. Move the boxes curbside. Offer a VERA to get rid of people who are fed up, get rid of the thousands of EAS employees who do nothing but push needless reports and millions saved.
WTF
its time for 5 DAY DELIVERY !!!!! WEEKENDS WERE MADE FOR MICHELOB, ALL THESE UNIONS WANT 6 DAY SO THEY CAN GET MORE UNION DUES AND STUFF THERE POCKETS AND GET THERE FUCKING GREASY HANDS ON THE WORKING PEOPLE UNION DUES
rural carriers need to work 8 mhour days, i work as a city carrier for 25 years , my route is 1 hour 10 min longer than it was 3 years ago . 3 years ago rural carriers were going home at 1:00 guesws what rural carriers are still going home at 1:00, they got it ez just like there stupidvisors
well now we need to remember that lynch was part of the group that wrote the postal acct act. Both sides had input in 2006. Obama wants to end saturday del and start the downward spiral they all talk about in 2013. A lot of good union jobs will be lost if we go to five days! Any real news about ver’s or what happens to unassigned clerks that do not bid on ntft jobs that were invented by our union.
will they really close over 200 plants and think that will help the network? We need to give them(politicians)even more money!? Lets get some results from the ones we already own! Like our president! you really think you will get our support by closing our offices and curtailing our services?!
marvin, the dems were not in control of the house and senate in 2006. they won the majority of elections in Nov. 2006, but did not become the majority party until 2007. the postal reorganization act in 2006 was strictly the work of the republicans.
i thought the dem’s were in control of the house and senate in 2006 when the
postal reorg act was passed, they are even more insidious than the repub’s (nafta/gatt, thanks bill c). at least you know what your gonna get from the repubs.
it’s time for a worker party!
Postal management….the only thing they can run is their mouths!!! It still amazes me that we stayed afloat this long in spite of these incompetent,fat,lazy,loafing,free-loading buffoons!!!!!!Without those dopes the USPS would have gone down as the greatest success story in the annals of business!!!!!
The younger workers are all for getting rid of us older workers:Hey stooooopid…..guess what…….you’re next!!!!!!Dumba**es!
Hey Teabeggers and Rethuglicans:You have voted yourself out of a job,and out of a retirement!!!!!!
Fire DopeyDonohue and impeach Darrel “The Criminal” Issa!!!!
The Big Republican Lie — There was a time (in 2006) when $5,5 Billion actually helped balance the budget. Our USPS contribution to the General Fund made a difference. Not so anymore with deficits in the mere $$$Trillions$$$ under our current duely elected administration.
Now, about your comment….
“The TEAPUBLICANS ARE LOWER THAN POND SCUM and need to be squished like the INSECTS THAT THEY ARE….”
SHAME ON YOU!!!
Just my opinion, mind you, but I would think a decent liberal Democrat like yourself should afford the rest of us the same kind, tolerant understanding you give to mass murderous bastards like Che or Al Qaeda or even, my goodness, HAMAS! [Just a thought, ya might wanna tune down the violent rhetoric as it distorts the kumbaya song you be a singin’.]
Unfortunately, I find myself in partial agreement with this comment…
“VOTE ALL THE CORPORATE WHORES OUT OF POLITICAL OFFICE in 2012.”
Just a single question… who would be left to represent us? ALL of them have their pockets lined with special interest corporation monies.
__________________________________
The Honest Truth — If the Republicans were all locked up… who would pay the taxes to keep them incarcerated at current Liberal standards for common rapists, murderers or terrorists? I simply don’t understand how your stated punishment of imprisonment is a common sense penalty for those who pay taxes AND disagree with you. Lighten up. We are on the same team; I think.
That said,
ISSA is foolish (hails from California – nuff said), Ross is not much better.
To all my fellow Postal employees and true Americans –
COOLER HEADS WILL PREVAIL
To date, none of the plans proposed by our legislature or Prez Obama will fix the PO. A good starting point is the bipartisan requested GAO report establishing the credibility (or not) of the USPS OIG claim of $75B CSRS and $7B FERS over payments. [Anyone not familiar with USPS and Postal Math please raise your hands!]
The next step will be rightsizing the USPS by making it economically feasible for all of us old farts to leave with an honorably negotiated settlement so we don’t become a burden on the tax payer in years to come. frankly, the economy is in the tank and my home’s value has plummeted making rendering all of my retirement plans problematic. I fear most of us are in the same boat.
Therefore, I respectfully submit to you the –
5-50 Save The USPS Through Retirement Plan
5 years towards service/age and $50k.
Considering our current Postal climate, the 5-50 Plan will effectively solve the single, greatest hurdle to true postal reform… 80% of USPS overhead is PEOPLE. As per previously stated reasons, better solutions than lame incentives previously offered old farts are needed to help us move on to greener pastures.
die republican shitbags die
Actually he is a YOUNG congressman with little actual knowledge of what is actually happening with his own TEAbaggers lying about bail outs and monies owed the Government by the Postal Service.
If the Post Office goes under who will pay for your NOW unfunded policies? Not FedEX or UPS. Hell, they’ll fail now because the PO was 30 – 35 % of THEIR REVENUES.
Postal SERVICE is MANDATED in the Constitution. You do know what that is RIGHT?
LOOK IT UP!
And say “Hi!” to your BUDDY, ISSA!
Thanks for tryimg to DESTROY the BEST Postal Service in the WORLD and the MOST TRUSTED GOVERNMENT Agancy in the USA!
Double ours MOFO’s
We all know that the government is trillions in debt themselves you think that there going to give back to the post office that 50-75 billion dollars they owe heck no. The “REPUBLICANS” are going to take us for sure into the great depression again you watch and see. You might as well store up on your food now ie rice, canned foods cause hyper inflation is coming thanks to obama and the republicans this nation is going down the crapper and theres no stopping the overflow
8/9 years, $75k and i’ll be outa here faster then that MOFO.
Hello to change.
“Give me 5 years added to my service & $25k I be outa here so fast.”
You’ve been milking the Post Office tit, protected by a failed Union, and want the Taxpayer to give you 5 years of service for no work?
Useless eaters is what you MOFO’s are, you have participated in the failure of the USPS, just as much as the Congress, the Management, and the Union you are a member of.
America would be a great country if all Republicans were locked up in prison where they belong.
The ONLY REASON that the Postal Reorg. Act of 2006 had the 5.5BILLION GOLDEN EGG PROVISION was that the USPS was independent of the Federal
Budget and THEY COULD BE SUCKED DRY BY THE CONGRESS in order to help “BALANCE” THE FEDERAL BUDGET.
For decades the CONSERVATIVE MINORITY of this country, FUNDED BY BILLIONAIRES, have been HYPING PRIVATIZATION OF MOST GOVERNMENT SERVICES, saying that only the PRIVATE SECTOR can produce goods AND SERVICES in the most “EFFICIENT MANOR”….it was to that end that the TEAPUBLICANS rammed through the vile legislation in 2006 to permanently cripple the USPS in order to kill it for their CORPORATE FRIENDS.
And now they LIE ABOUT IT. This liar CRETIN, Justin Amash, says that the USPS has “A MASSIVE UNFUNDED LIABILITY, which is does not….and just exactly WHY does he not insist on EVERY OTHER GOVERNMENT AGENCY IN THE FEDERAL GOVERNMENT TO “PREFUND” 75 YEARS OF RETIREE HEALTH CARE? Because it would COME OUT OF THE FEDERAL BUDGET AND MAKE THEM LOOK BAD.
The TEAPUBLICANS ARE LOWER THAN POND SCUM and need to be squished like the INSECTS THAT THEY ARE….
They LIE to the American people constantly IN ORDER TO ADVANCE THEIR AGENDA….The THREE HUNDRED MILLION DOLLAR MAN, Darrell Issa is the RING LEADER IN THE TEAPUBLICAN “REVOLUTION” to take the American WORKER to the BOTTOM OF THE WAGE AND BENEFIT SCALE in order to MAKE AMERICA “COMPETITIVE” WITH LOW WAGE COUNTRIES AROUND THE WORLD….the only one to benefit from this is LARGE CORPORATIONS RUN BY HIM AND THE REST OF THE CORPORATE ARISTOCRACY THAT FUNDS THE “PURCHASE” OF THE TEAPUBLICAN MEMBERS OF CONGRESS.
How can we fix this??
VOTE ALL THE CORPORATE WHORES OUT OF POLITICAL OFFICE in 2012.
Its the USPS that has been bailing out the federal gov’t. Yes we’ve been a cash cow & now surprise surprise surprise we are broke. Thus has been deliberate IMO. Break the back of the USPS so they can privatize. All these little village lost offices are just the beginning of the privatization. Back door if you ask me. Give me 5 years added to my service & $25k I be outa here so fast.
5.5 Billion owed to the federal Gov’mt? Can you BELIEVE the mentality of these old farts. Nothing is owed. the payment is for our future health care.
75 years worth, to be paid for in 10. In a few years, they will say its not there……
Just like the civil service overpayment. Talk about a cash cow…. I wonder how many government programs we are funding. I smell something, do you?
F you, rethuglikkkan a**holes.