Thursday, November 3, 2011

Special Delivery: Post Office Rescue Plan Proposed By Lawmakers

CNN reports that "a small bipartisan group of lawmakers announced a proposal to save the U.S. Postal Service that would make it possible to cut Saturday service in two years, close post offices and buy out 100,000 workers."

In addition, rates will go up and Congress can tap into an "overpayment" to the pensions of retirees. Overpayment?  Are they kidding? The article then later mentions a several billion dollar hole that needs to be covered by November 18th in the Post Office health care retiree plan. So a massive overpayment in one area and chronic deficits and shortfalls in others. Talk about mismanagement.  How about closing the entire operation down and letting a FedEx or UPS take a shot at running it.


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