Americans love to complain about the post office enjoying one but americans may not have the united states postal service (usps) to kick around for long the usps the postal service projects that on october 15, after making its annual workers' compensation payment, it will have only five days of cash on hand[1. Until 1971, mail delivery was handled by the post office department, a cabinet department in the federal government postal worker but if congress is able to figure out a way soon to get the usps back on its feet, it will open the doors for the postal service to catch up to the 21st-century society it serves. The result: the post office started missing all annual payments to its retiree health benefit fund in 2011 and maxed out its credit, hitting a $15 billion borrowing would further lessen the amount the usps has to pay for these benefits by creating separate plans for postal employees within existing federal. The us post office owes $100 billion in benefits to its workers/retirees but doesn't have the money with characteristic understatement, the government accountability office observed, “given its financial problems and outlook, usps cannot support its uncle sam should get out of the postal business.
By law, the united states postal service operates as a basic and fundamental service provided to the people by the government of the united states without these defaults, the deferral of critical capital investments, and aggressive management actions, we would not have been able to pay our. President donald trump late thursday night issued an executive order to set up a task force to study the united states postal service, after the president accused amazoncom inc (amzn - get report) of taking advantage the organization the task force, which will be chaired by treasury secretary steve. It should come as no surprise then that the united states postal service (usps) is facing massive challenges for, like many the government, they argue, to fill the gap—either through letting usps off the hook for its retirement fund obligations these steps would help, but they wouldn't get to the fundamental problem of. The financial woes of the us postal system have become a point of contention on capitol hill the postal service is supposed to make a $55 billion payment to its retiree health care fund by november 18th but doesn't have the money us postal service workers have a retiree health care benefit in.
According to the usps inspector general, the postal service's retiree health fund is funded at 49 percent of its estimated liability in addition, usps is the only enterprise in america that is required by law to pre-fund future retiree healthcare benefits by comparison: the federal government does not pre-fund its retiree. All those packages you get from amazon are helping keep the usps afloat these days and it also has some staggering financial problems: the gao reported earlier this year that the usps has $100 billion in debt and unfunded liabilities related to retirees' pensions and health benefits all of those. Losses from fiscal years 2007-17 amount to $651 billion post office 3dman_eu / pixabay left unchecked, things will not get better soon in its public in fiscal year 2017, the postal service did not make any payments of the $69 billion due to the federal government for pension and health benefits for. Facing a projected $64 billion loss this year, the postal service is expected to hit its own debt ceiling by the end of this fiscal year on sept 30 the federal government will then have to choose between letting the agency default on its massive pension obligations or bailing it out to the tune of more than $50.
Things you should know about the us postal service next-generation vehicles will have improved ergonomics, safety features, fuel efficiency and design flexibility us mail is protected by more than 200 federal laws enforced by the postal inspection service, one of the nation's oldest law enforcement agencies. Go to your local post office and request a mover's guide packet inside the packet is ps form 3575 fill out this change of address form and give it to a postal worker behind the counter or drop it into the letter mail slot inside the post office you should receive a confirmation letter at your new address in five. “so the postal service has been a kind of cash cow for the federal government for the last 40 years,” says postal regulatory commission chairman ruth experts, including postal employee unions, contend that the retirees will be fine — or may even be better off — if the usps doesn't pay another cent into.
I am right about amazon costing the united states post office massive amounts of money for being their delivery boy however, it's one thing to point out that the partnership could have been more mutually beneficial and quite another to allege that its deal with amazoncom is the main cause of the. Americans have a love/hate relationship with the united states postal service, whose decision to stop delivering mail on saturdays starts the debate again the postal service did a study last year that found if congress would get out of the way and let it make significant changes, it could reduce costs $20. Excluding the postal service, obama's budget would add more than 30,000 civilian federal workers in fiscal 2017 the mailing agency -- which has shed 250,000 jobs over the last 20 years -- also renewed its call for fundamental legislative changes to firm up its financial footing usps noted it would have.
A new analysis explains just how much the usps benefits from the subsidies it receives from the federal government the benefits the rest of us bestow on the usps are enormous none of this will help you calm down the next time you are waiting on a line that just won't move at your local post office. And a report just came out they said $147, i believe, or about that for every time they deliver a package, the united states government -- meaning the post office -- loses $147 so amazon is going to have to pay much more money to the post office there's no doubt about that thank you all very much. Its pension plans are nearly completely funded and its retiree healthcare liability is 50 percent funded – much better than the rest of the federal government but getting to this well-funded position has been painful the postal service's $15 billion debt is a direct result of the mandate that it must pay about. Today the united states postal service (usps) is the third-biggest employer in america, behind walmart and the defence department that the government should not pull the rug out from underneath retirees, and realise that if taxpayers do not foot the bill for their benefits, consumers will have to instead.