thereisnospoon
Gold Member
Blaming Bush is for the purposes of giving Obama a hall pass is rejected.The 'mess' is a wound inflicted by people who hate the post office.
No other industry has to pay in as much into their pension fund as the post office.
If that weren't the case..the Post Office would be profitable.
It's almost as if UPS and FEDEX are writing the laws in this matter.
Yeah, weird huh?....especially considering its happening on Obama's watch....
Or is it Ried's watch?
It wasn't Obama's watch..and it happened while Republicans were in control.
That ocean of red ink followed a controversial decision by Congress in 2006 to require the Postal Service to, within a decade, fund its pension obligations for the next 75 years, at the cost of $5.5 billion a year. No other government agency is subject to that requirement, and analysts say the Postal Services pension fund is drastically overfunded.
We think the pension requirement should be revisited to give the Postal Service some relief, either in the number of years that need to be prefunded or in the time frame of the payments, although too many pension plans have imploded for us to advocate a return to pay as you go funding.
OUR VIEW: Postal Service struggles | GadsdenTimes.com