CCAGW Calls for Congress to Deliver on Postal Reform
CAGW | July 28, 2012
In response to the United States Postal Serviceâ€™s (USPS) announcement this month that it will default for the first time on its annual payment for future retiree health benefits, the Council for Citizens Against Government Waste (CCAGW) again slammed Congress for failing to enact a meaningful set of structural reforms that would improve USPSâ€™s fiscal health.Â The Postal Service, which lost $8.5 billion in fiscal year (FY) 2010, $5.1 billion in FY 2011, and $3.3 billion in the first quarter of FY 2012, is literally on the brink of financial ruin and, as with all of the nationâ€™s fiscal problems, Congress is ignoring the crisis as it grows increasingly dire.Â In a November 21, 2011 speech before the National Press Club, Postmaster General Patrick Donahoe pointed out that â€œroughly 25,000 out of our 32,000 post offices operate at a lossâ€; thousands of post offices have less than $20,000 in annual revenue yet cost more than $60,000 to operate; and many of these unprofitable locations are a few miles away from another post office.Â However, Congress has refused to permit USPS to close any post offices, or to address the USPS deficit in a meaningful and timely way. â€œThis financial meltdown at USPS is completely preventable,â€ declared CCAGW President Tom Schatz.Â â€œCongress should adopt the boldest possible reform to avert yet another massive taxpayer bailout.â€Â Â Read more about Congressâ€™ failure to address USPS reform.
Contributor's website: http://cagw.org
Content posted by users from other sites is posted for commentary and news purposes under fair use and each author is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or its owner.