U.S. Postal Service (USPS) is Bankrupt Losing $8.5 Billion & Obama is Trying to Bail It Out

[MFP1520]

LET THEM DIE POST OFFICE RIP GO GET A JOB LIKE THE REST OF US $8 BUCKS A HOUR NO MORE $25 A HOUR TO PUT A LETTER IN A BOX AND THE BEST BENEFITS MONEY CAN BUY

[ItisShe]

YAYYY ROYALS!!!! And thank you, I so agree! The Post Office is Obsolete!!

[OurLarry]

The Post Office has this "financial" crisis due to Congress. The USPS is required by CONGRESS to prefund 75 years worth of FUTURE retiree benefits in a 10 year period, that's $5 billion a year. Some of these retirees aren't even born yet!!! No other federal agency or private business has to bear this burden. The USPS does not need a bailout. Also, have Congress repay the $60-80 billion dollar overpayment that the Postal Service put into the federal government's pension plan. Support bill 1351!

[dopeintellect1]

Your a misguided fool... did u know that a republican favored bill passed that would force the usps to pay 80 years worth of pensions in 12 years. Of course its gonna go bankrupt when u set it up to. another republican trick to fool the american ppl like u. N democrats are no better

[iluvdx60]

Yeah! Like EOG-ENRON OIL AND GAS, GM, ETC! YOUR PRETTY SMART! 

[michaeljfo]

Wow, Have u not heard of the postal accoutability and enhancement act signed into law by GeorgeW in 2006 requires P.O. to pre fund it's pensions 75 yrs out in 10 annual pymts of 5 1/2 billion per year. No other business required to do this, none could survive this. U have fallen for former car thief now congressman Daryl Issa's misinfo campaign. This is not a bailout but a bill to allow P.O. to apply it's own overpymts of 75 billion to current prefunded mandate . Knowledge is power!

[oscar19521]

Get the whole picture. Get your facts before you make a fool out of yourself again. You are so misinformed in everything you said.

[Nanostarification]

watch The Great Postal Heist

[msfarm2]

You don't know what you are talking about, and besides that, you are a crack pot!

[samten10a]

I If you like the word PRIVATIZATION you must like this bank fraud mortgage frauds and all unemployment. OR the PR sogans, government has no business in business. Deregulate and we (business) can do it cheaper. Because that is what caused this recession people like you buying in that bull shit.

[samten10a]

I don’t like the Unions. BUT every time I hear the word PRIVATIZATION OR the government has no business in business. Deregulate and we (business) can do it cheaper. Those statements are code word the citizens to bend over and take it up the ass.

.

The cost is going to go up to mail a letter it is just amount.

.

You need a letter sent it will cost $3.99 for each sent.

[CearaQC]

Usa is a cesspit ,people are ok but govt is very nasty at all levels

post office is obsolete

[CATSASS1117]

Apparently this guy is a Republican crack-pot but drunker...

[pnoozi]

good luck sending a package over the internet, kevin. let us know how that works out.

[galerouth]

can fedex or usp send a letter for 45 cents?

[kschumannjr]

Once again, Republicans show that not only are they misinformed about their own bad policy (Postal Accountability and Enhancement Act of 2006) they act like sub-human scum who gloat over the hardships their bad policy has placed on others.

Conservatism = Retardation.

[TrickPatez]

Do your history before you post video drunk resource back to 2006 and you will know there going bankrupt.

[hgryphon]

Sorry, Kevin, but you aren't reporting accurate info.

You should look up the "postal accountability and enhancement act of 2006." This is requiring the post office to pay into pension funds for all projected employees over the next 75 years, but in a 10 year time frame. Paying pensions for people they haven't hired yet. NO business could last with that.

It's a trick the Republican party set up so that folks like you could feel justified in saying gov't run orgs don't work.

And you fell for it.

[tybrady64]

They're not bankrupt, they were forced by a republican congress to put 75 years of pensions in a 10 year time period. Pensions for people they haven't even hired yet!?!? They really have a surplus. More republican shenanigans to make people like you think the Post Office needs to close down so the corporations can make more money.

Do you really think UPS or FedEx would deliver your letter for 0.44 cents. No Way. They don't even deliver to all parts of the US.

Stop watching Fox News & Newsmax.

[1984chupacabra]

Its the republican partys fault. Its all because of an act that the republican party passed back in 2006. The problem seems to be that idiot fucks like kevinmcdshotday have no idea what theyre talking about and blame liberals/democrats/obama for all of their own partys mistakes. Actually, theyre not even mistakes. The uber-wealthy run republican party is intentionally trying to screw us all.

[Jascias]

Republicans sabotaged the USPS to force the post office out of business. No other company is forced to pay employees’ total health care costs in advance before the employees are even born.

Another instance of the tea party Republicans sabotaging the economy then blame Obama strategy.

[myw67]

I wonder where this idiot was when the US was bailing out the big banks and the big motor companies. I wonder what his thoughts are on the US gov keeping BOA (bank of america) alive. I wonder what his thoughts are about QE and the upcoming QE3. get a grip losing the post office is like losing interstate highway something else the repubs are trying to achieve it will just cost more in the long run.

[dragyn11]

I'm a (temp)carrier for USPS and I'm not gonna nay-say this whole thing. Most have already commented on finding out the facts about the gov-mandated prefund pkg., but I'm conflicted with all the junkmail that we deliver. We don't like it, you don't like it, it kills trees, wastes our time but if we weren't so damn lazy, any body can use the "Internet" to remove yourself from the mailing lists.

And I for one, wish some lazy carriers were gone so I could be a full-time Career carrier, lol.

[pondwater48]

You are the most important person in your Mom's basement.

[ThePrimeSpotcom]

It's not a Bail Out, you need to get the FACTS at "youtube dot com slash postTruth" after you watch that you'll feel smarter;)

[pondwater48]

What a do-da.  A non-union loser drinking foreign liquor.

[sounder88240]

YOU ARE MISGUIDED, FED EX AND UPS CDOE NOT SERVE ALL 150MILLION ADDRESSES, WILL YOU BE ONE OF THE 15MILLION ADDRESSES THAT GET MAIL. STAMPS WILL ONLY BE 3.00 EACH. LEARN WHAT YOU ARE TALKING ABOUT DRUNK BEFORE YOU SPEAK. DOES FED EX OR UPS PAY 5.7 BILLION DOLLARS A YEAR PREFUNDING NO! IF THE POST OFFICE CLOSES 5 MILLION JOBS WILL BE LOST 1.3 TRILLION IN BUSINESS YOU SUCK BEN FRANKLIN- YOUR WEENIE IS SMALL AND YOU ARE A PICES OF SHI

[electric1gypsy]

your an idiot the post office is not bankrupt we have 50 billion dollars in surplus they just won't let us use it. Yeah fed ex and ups can pick up the slack they are and will be more expensive moron

[803brando]

bush pushed an executive mandate that requires the usps to pay ALL pensions 75 years in advance. the USPS was fine up until that mandate a GOVERNMENT MANDATE. I guess its ok for BIG GOVT. when a republican is in office. i love how ignorant people love to get angry based on whos in office.

[increasingrain]

I think that the USPS should partnering with large companies. Such as Amazon and Newegg. Make those companies ship with USPS and give them a more discount than UPS and FedEx. You won't make a big profit but you will deliver more and then you can pay off debt. You might even make a descent profit from that.

[shortpostal]

You are an uninformed asshole. Drink more, talk less!!!

[cam45m51]

where is a good source for all this information?

[gatecomingdown]

you lost me on the penis thing

[mochronicle]

Tea Party folk disregaurd the biggest part of this problem, $21 billion paid into 2006 congress mandated prefunding of benefits 75 years in advance to be paid in a 10 year period. The Post Office has done pretty good so far, overpaying over $70 billion to the gov't. USPS biggest obstacle in reform is Congress. It can't wipe its nose without permision from congress. Other business do't have this burden. a lot of business' depend on subsidized mail. avg rev. flats=.25 standard letter .21

[andrademeza]

Hehehe thanks for this rant, your shot of tequila was well earned. Fuck the postal service!

[TheAnnoyingTroll7]

@andrademeza The postal service is not going to "go out of business". I don't understand why everyone says "shut them down". If they had 20% less employees they would be profitable and would still be able to operate with the reduced mail volume so why would they fire everyone?

[andrademeza]

@TheAnnoyingTroll7 Well i just dont like them and they should be shut down....anyway..gosh your annoying :)

[TheAnnoyingTroll7]

@andrademeza Thank you.

[andrademeza]

Fuck the usps, i sell things on ebay and i have sent 4 things that they lost, i used tracking numbers and still they lose it, so i have to refund peoples money, ive lost alot of money because of the usps, im still waiting for them to call me back from my latest claim. FUCK THE UNITED STATES POSTAL SERVICE. LET THEM GO OUT OF BUSINESS AND ALL THEM FUCKS LOSE THEIR JOBS THEY DESERVE IT FOR THE HORRIBLE CUSTOMER SERVICE AND DELIVERY SERVICE THAT THEY PROVIDE.

[TheAnnoyingTroll7]

@andrademeza I totally agree with you. Any company anywhere that has ever messed up should be shut down. A cashier at walmart gave me the wrong change one day they should shutdown all walmarts everywhere. I went to ruby tuesdays with the family one night and ordered a coke, the bitch brought me a DIET COKE!!! They should shut down every ruby tuesdays in the world because the waitress at the perticular ruby tuesdays i was at made a mistake. Shut everything down everywhere!!!

[ihofaerefa]

where's the source that he s trying to bail them out?

[TPYouthLeague]

The government should not be involved anything that can be handled in the private sector. If they are so serious about saving the USPS why not increase the rates on all of the advertisers who send all the trash mail? Think of the man hours spent on separating and delivering junk we throw away(or possibly put in the recycle bin) not to mention the natural resources we would save. Shouldn't they pay an equal share? I've wondered for years what is so sacred about Saturday mail delivery. Who Knows?

[clgrayson1]

Totally in agreement!!! being out of work right now, I would feel bad for the loss of jobs. But, I do not in my personal finances throw good money after bad and it's time we demand it of our government.

I mean how hard is it to make a list of bills and then weed out wasted spending. Millions of people do it everyday.

I'm not for no Government, but the one we have now doesn't know how to Govern. Politics is what you do to get in office, once there you are supposed to govern.

Fire them ALL...

[clgrayson1]

@TheAnnoyingTroll7 Ok jackass, your screen name is very fitting. I guess you should add ignorant too. I was laid off until today and I know very well what it means to be laid off. The simple fact is that it is an antiquated system that is losing money hand over fist. It isn't my fault that is the way it is. No one uses the U S postal service. It is going out of business and no amount of money is going to save it. Take you 90 IQ back to school and give some thought to your comments next time. DUH

[clgrayson1]

@TheAnnoyingTroll7 No Dude, I guess you can't READ. I am against throwing money into a losing business. If it is so easy to fix, then go fix it. I am against giving money businesses like this one or one other you mentioned.

Bank of America took a bunch of money in a bail out, and just recently needed to get more help to the tune of 5 billion from Warren Buffet. It is not just because I don't use the postal service anymore, fewer and fewer people are using it every day. Not just ME!!!!! DUH!!!

[clgrayson1]

@TheAnnoyingTroll7 You annoying little troll. It is not a theory and you have yet to read or understand a damn thing? Are you really stupid. I didn't really think so even though I made that 90IQ remark. Despite the agency's economic woes, the 250,000-member American Postal Workers Union negotiated a cushy labor deal with the USPS in March. Bureau of Labor Statistics data indicate the average hourly compensation for postal union members is $41 versus $28 for the private sector.Give them 50 bil?

[clgrayson1]

@TheAnnoyingTroll7 The DUMB comments have no effect on me, I have a 134 IQ and I get tested every six months to ensure that it is moving in the right direction. Since you can't seem to do any research and just keep saying the same things over and over in a slightly different way, I will be posting some information that will definitely take more than one post. Stay tuned.........

[clgrayson1]

@TheAnnoyingTroll7 The Postal Service is nearly $15 billion in debt. It has stayed afloat by borrowing $12 billion from the U.S. Treasury.

The amount of mail sent through the Post Office dropped from 213 billion in 2006 to 170 billion in 2010. In a best-case scenario, mail volume is expected to drop to 150 billion by 2020. The worst-case projection is 118 billion.

[clgrayson1]

@TheAnnoyingTroll7 Eighty percent of the Postal Service's annual budget goes toward employee salaries and benefits.

By contrast, 61% of the United Parcel Service's budget goes to employee-related expenses. FedEx spends 43% of its annual budget on personnel costs.

Bureau of Labor Statistics data indicate the average hourly compensation for postal union members is $41 versus $28 for the private sector.

You expect me to care about these employees who are driving their job to bankruptcy?

[clgrayson1]

@TheAnnoyingTroll7 Despite the agency's economic woes, the 250,000-member American Postal Workers Union negotiated a cushy labor deal with the USPS in March.

The four-and-a-half-year agreement extends the no-layoff provision and provides a 3.5% raise over the period of the contract, as well as seven uncapped cost-of-living increases. A USPS spokeswoman told Businessweek in May that the agency agreed to the terms because it feared an arbitrator might be even more deferential to the union.

[clgrayson1]

@TheAnnoyingTroll7 In March, Postmaster General Patrick Donahoe warned that the USPS would default on $5.5 billion in future retiree healthcare costs unless Congress comes to the rescue.

Now I ask again, you expect me to care for the jobs of people who don't care that they are driving the business into the ground? And I'm the DUMBASS? Now I know your a bitch ass postal worker.

I can't say I blame you for caring about losing your gravy train.

[clgrayson1]

@TheAnnoyingTroll7 The U.S. Government Accountability Office found that the U.S. needs to close post offices and start moving the USPS into the digital age.

The 40-page report, published in February, examined postal services in other developed countries and found that they had saved their ailing systems by giving up their postal monopolies, shutting down brick-and-mortar offices (despite intense opposition), and developing products for wired customers.

[TheAnnoyingTroll7]

@clgrayson1 Your information supports what I have been saying. You say employees are over paid, I say there are too many of them. In my comment and yours we said 80% goes to salary and benefits and with less money coming in than going out the only solution your 134 IQ and business degree could come up with is "fire them all" You are obviously a tea party asshole.

[clgrayson1]

@TheAnnoyingTroll7 Now, I am sure you will skip all of this information and make a comment very much in line with your others. And as people go through these exchanges and see your comments they too will come to the conclusion that it is you who are the "DUMBASS" and not I.

I would like to thank you for making me look up this information. It helped to solidify my attitude towards this whole subject. Now I can actually say I care as much as the postal employees do about there jobs.

[clgrayson1]

@TheAnnoyingTroll7 Well, that's where you and I differ, I would care. And, I care about their jobs too. But since you failed to read any of my comments, I guess you missed that too. If the employees were in any way concerned with there jobs, They would have looked at their situation and taken measures to do so. It is not just the executives but the union also. As a matter of fact, you would have know that by reading that data you say you know about. But why actually read, right? just assume...

[clgrayson1]

@TheAnnoyingTroll7 Talking to you is like talking to a fifteen year old. I give up, your an idiot and there is no reasoning with an idiot. You can try and attribute those things to me but the business is mismanaged and is losing to it's competition. The only thing I am not cool with is continuing to bail out companies like this.

And yes, my faith in Congress doing anything right is next to zero. And I might add, for good reason. Enjoy the rest of your evening.....

[clgrayson1]

@TheAnnoyingTroll7 Here is something for you antiquated service...The quarterly loss was the fourteenth in the last sixteen quarters, the postal service said."A significant portion of USPS losses in the past few years has been due to an unprecedented decline in mail volume -- down more than 20% since 2007," the USPS said in a statement. "The replacement of letter mail and business-transaction mail by electronic alternatives continues to cause downward pressure on mail volume."

[clgrayson1]

@TheAnnoyingTroll7 I guess I need to repeat myself again just like talking to a teenage kid. Fewer and fewer people are using the postal service. It is just that simple. Consolidate all you want. Fire all the people you want. It will continue to lose to other services and electronic mail until it is gone. The only way it will survive is if the government bails them out and continues to bail them out. I can't stop technology and neither can you. That is life; new things come, old things go.

[jepst41]

Postal carriers are SO overpaid, just like all federal government employees.

[crusader1492]

I worked as a temporary mail carrier for the post office for about a year and saw the inner workings of a mis-managed organization...they deserve to go bankrupt.

Btw, having that experience, I can see why postal workers go "postal" because the useless management treats the workers like complete crap - as if they were slaves. Close the post office - free the slaves!!!

[wizdumb420]

lol...F'kn-A

Franklin woulda been using the Net before the masses..maybe even invented it and yup, he'd be trolling for chicks on it

[kevinmcdshotday]

I think that is an easy fix, Do a contract with Fed-Ex/UPS. I think moving that $8.5 billion per year in the private sector would get the job done and get the troops better service than they are getting now. Military uses contractors all the time. What would be the difference here?

[redryan20000]

@kevinmcdshotday you're a complete idiot

[TheGreatSanger]

@kevinmcdshotday Well, lets see...it costs 44 cents to send a letter anywhere in the country. The cheapest fee (standard ground shipping) on the UPS website to send a 1 lb package across the state is $10.76. For $5.20 I can send a small priority mail package of up to 70 lbs anywhere in the country. Somehow I don't see how UPS is likely to save us any money.

[KlingonSpider]

1:20 "Would anybody really miss it?" well any soldier or sailor oversees that relies on the fleet post office (FPO) and army post office (APO) respectively to receive and send letters and or parcels. UPS and Fedex do not deliver to military installations.

[snoopilicious]

LOL image of Ben Franklin flying a kite on his Weiner is burned into my mind