Quote:
Originally Posted by LewisM
US postage rates have skyrocketed since Obama's mis-administration
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The general historical view is that the current USPS problems can be traced
back well before that to the George W. Bush administration.
Specifically Congress signed into law the Postal Accountability and
Enhancement Act of 2006 where the USPS was mandated to change the
rules governing retiree pensions and health benefits.
The Act required the USPS to calculate all of its likely pension costs over
the next 75 years and then to squirrel the money away to cover it.
According to the USPS Inspector General, the USPS has set aside some
$335 billion for its pensions and retiree healthcare.
https://www.uspsoig.gov/blog/be-careful-what-you-assume
According to the US Treasury, the USPS has been losing money for more
than a decade. Of the US$139 billion debt it currently has, most of the
line items are associated with unfunded pension and retiree health liabilities.
A task force has been set up under the Trump Administration to develop
recommendations for reforms of the USPS.
https://home.treasury.gov/system/fil...12-04-2018.pdf