(This article was written March 3rd.)
Now almost one month after first proposing action, the Postmaster has again suggested that Saturday delivery elimination would save $3.5 billion annually, but that will not solve the postal problems. Just how long will Congress stall as money is lost with each day they delay addressing this business failure? Maybe, if they did not take so many vacations to go home and schmooze campaign donors, they just might accomplish the peoples’ business.
How long will our federal government ignore its fiduciary responsibilities and permit the Postal Service to continue operating with massive financial debt? I suggest that you read link below from Daily Finance.Com
I have written several commentaries in the past urging immediate action by Congress, but as usual it fails to address this hot potato issue for fear of causing a negative reaction from the complicit buddies in the Union movement. How can anybody continue to ignore a business that cannot pay $5.5 billion for employee medical benefits, and $1.3 billion in workers’ compensation obligations without another bailout that falls on your back and mine?
As I have said before the business model that operates the U.S. Postal Service is outmoded, non-competitive, dysfunctional, bankrupt, and must be dissolved. One wonders if the government’s postal service is so laden with unsustainable union contracts and so out of touch with innovations that have taken place over the years that anyone would even bid to take it into a private profit based format.