Posted 1 year ago on March 3, 2012, 6:22 p.m. EST by bklynsboy
This content is user submitted and not an official statement
In 2006 a lame-duck Republican-majority Congress passed a bill requiring the Postal Service to set aside more than $5 billion a year into a fund to guarantee health benefits for retirees up to 75 years from now. This money cannot be diverted to cover operating expenses.
But between 2007 and 2010, revenue taken in actually exceeded operating costs by $700 million, according to the USPS year-end 2010 report. It was the Congressional attack, not the Internet or other market forces, that caused the postal deficit. NO OTHER business is required to fund retirements IN FULL for 75 years into the future!
The USPS actually runs a profit, but this kills Repugnicons who want to privatize it for profit and destroy the largest union in the US.