25 Apr 2013 3:57 pm
There is absolutely no reason why the Postal Service is forced to prefund 75 years' worth of employee health benefits in a ten year window. Maybe because it was so appallingly fiscally irresponsible and didn't budget for retirement costs before? Because postal employees expected to go to Congress again looking for a taxpayer bailout? I'll bet blind that's true. Or why they are banned from generating more revenue by being able to offer new products and services. Because just like mail service, there's the big risk that it will use its political influence and force of federal law to drive private sector competitors out of business. Just like private companies are forbidden by federal law to put letters in private citizens' mailboxes. What private company enjoys that unfair advantage? The 2006 bill was designed for no other reason than to put them out of business. The ridiculous over-compensation of postal workers and their general laziness is what will drive it out of business. Private companies generally devote roughly 40% of gross to salaries and retirement costs. The Post Office pays 65%. That's a recipe for bankruptcy.