From FEE: “The U.S. Postal Service lost nearly $5 billion this past year, according to its just-released year-end financial results. As in recent years, the agency did not make the legally required $5.7 billion payment to its Retiree Health Benefits Fund. The agency is $15 billion in debt and legally prohibited from borrowing additional funds. The unfunded portion of its retiree-health-benefits obligation is $54 billion…
…to date, Congress has proven wholly incapable of thinking big about what sort of USPS we need for the 21st century and beyond. For the past five years, lawmakers have feuded among themselves about what to do. Neither the House nor Senate has voted on any of the postal-reform bills that have been introduced.
Much of this paralysis is driven by the forces of the status quo. Postal unions (one of which has endorsed a socialist for president) and liberal romantics deny an existential problem exists. These same individuals often propagate the myth that the USPS would be doing just fine were it not for the mandate that it prefund its health-care benefits.”
USPS has been dying for awhile now, and a public sector union only hastened its demise. Time to abolish it and allow UPS and FedEx to profitably deliver everything.
