Postal Service Is Nearing Default as Losses Mount

[dustup]

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Postal Service Is Nearing Default as Losses Mount

By STEVEN GREENHOUSE
Published: September 4, 2011

The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances.
“Our situation is extremely serious,” the postmaster general, Patrick R. Donahoe, said in an interview. “If Congress doesn’t act, we will default.”

In recent weeks, Mr. Donahoe has been pushing a series of painful cost-cutting measures to erase the agency’s deficit, which will reach $9.2 billion this fiscal year. They include eliminating Saturday mail delivery, closing up to 3,700 postal locations and laying off 120,000 workers — nearly one-fifth of the agency’s work force — despite a no-layoffs clause in the unions’ contracts.

The situation is dire,” said Thomas R. Carper, the Delaware Democrat who is chairman of the Senate subcommittee that oversees the postal service. “If we do nothing, if we don’t react in a smart, appropriate way, the postal service could literally close later this year. That’s not the kind of development we need to inject into a weak, uneven economic recovery.”

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They waited until it was a dire situation and now yell for help....aka...bailout!

[ivanm]

If the union thugs don't want a layoff then they can work for nothing.  That oughta take care of that little detail.

I think they should drop Saturday deliveries and should close a lot of rural post offices that do very little business.  Being a post master in a little burg is like having a bird's nest on the ground.

When I was a kid the postmaster had a horny assistant with big knockers.  She was a keeper.   

[makesenseplease]

If the union thugs don't want a layoff then they can work for nothing.  That oughta take care of that little detail.

I think they should drop Saturday deliveries and should close a lot of rural post offices that do very little business.  Being a post master in a little burg is like having a bird's nest on the ground.

When I was a kid the postmaster had a horny assistant with big knockers.  She was a keeper.   

It's not just the postal union, it's all unions:

http://news.yahoo.com/labor-unions-adjust-reality-under-obama-090250701.html

He promised them the world, then told them to bend over.

[dustup]

It's not just the postal union, it's all unions:

http://news.yahoo.com/labor-unions-adjust-reality-under-obama-090250701.html

He promised them the world, then told them to bend over.

Obama is a one termer.......His ship is sinking and his promises are falling short of results .....and his supporters are starting to turn on him.......

[ivanm]

Obama is a one termer.......His ship is sinking and his promises are falling short of results .....and his supporters are starting to turn on him.......

Things will get better for you and your family.    Like a check in the mail?