Below is a terrific post submitted by my cousin, Peg. Sounds like some in Congress purposely created a financial meltdown for the U.S. Post Office for disingenuous reasons.
Here’s an issue that set my hair on fire this morning. The postal service has to ‘front-load’ their pension obligations up to 75 years out. NO other agency is required to do this. NO corporation has to do this. The law establishing the methodology for calculating pension funding for the postal service was passed by the lame duck congressional session in 2006. Please send an email to your congressional representative stating that you support House Bill 1351.
Some members of Congress would like to kill the postal service and farm out profitable operations to private interests. Doing so would leave rural areas and small rural businesses without adequate service as delivery runs to these areas are not considered “profitable.” It would isolate people who cannot afford the internet and are dependent upon the postal service for checks, news, etc. The Congress would claim the overpayments to the Post Office pension plans as ‘savings’ and would apply the monies elsewhere – that is the nature of a true ponzi scheme.
Support H.B. 1351, which relates to the methodology for calculating the amount of any Postal surplus or supplemental liability under the Civil Service Retirement System.
Thanks for reading, I will put the fire on my head out now…