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Too big to fail
Join Date: Jan 2002
Location: Carmichael, CA
Posts: 33,894
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The USPS Media #FAIL
Rewind back to 2006.
Things were going well for the Post Office. They were making money. They were even seriously considering replacing a large part of their fleet – the largest fleet of vehicles in the nation – with electric vehicles. It would be a huge boost for the electric car, and a huge slap in the face of oil barons like the Koch Brothers.
The Post Office had to be stopped, and Republican Congressman John McHugh (NY) was the man to do it. He had been a member of the Koch-funded American Legislative Exchange Council or ALEC, and was deeply in the pocket of right-wing interests. In 2006, he succeeded in proposing and then watching pass the Postal Accountability and Enhancement Act. It was passed by a voice vote in a Republican Congress and signed by Republican President George W. Bush.
What the law did was ram a poison pill down the throat of the Post Office. It required the USPS to pre-funding its Retiree Health Benefits Fund for more than seven decades out into the future – and do it all within ten years. With this law, Congress forced the Post Office to set aside money for the health benefits of future retirees who aren’t even born yet.
It’s an obligation that no other private business or government agency has ever had to comply with before. And it costs the Post Office $5 billion a year.
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"You go to the track with the Porsche you have, not the Porsche you wish you had."
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05-29-2013, 09:49 AM
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