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  •  Postal deficit (1+ / 0-)
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    lotlizard

    That $500 million might look small compared to the $15 billion deficit they reported, but it would make up a pretty good portion of the actual operating shortfall. The operating shortfall (revenue minus expenses) is $2.2 billion this year. The remainder of that deficit comes from congressional Republicans forcing the service to prefund its retirement system 75 years into the future, over the course of only a few years.  

    This requirement has nothing to do with providing a secure retirement, of course.  Republicans are all too happy to let companies raid retirement funds, underfund public pension plans, and try to privatize Social Security.  It has everything to do with making giant red numbers appear on the Postal Service balance sheet for a few years so that the Republicans (who no doubt expected amnesiac Americans to put them back in power this year) could end the service once and for all, turning all delivery over to private entities.

    And you fell for the propaganda.

    "And the President of the United States - would be seated right here. I would be here. And he would be here. I would turn - and there he’d be. I could pet ‘im." - Lewis Black

    by libdevil on Fri Nov 23, 2012 at 02:27:37 PM PST

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