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Quick thread. Holy Moly, this is the US Post Office quarterly report.Yup, they file cos they have public debt issuance.
https://about.usps.com/what/financials/financial-conditions-results-reports/fy2020-q3.pdf
Fiscal year 2019, U.S.P.S had a negative net worth of $71.5b & unfunded liabilities +$160b.
This is a taxpayer burden for something that was designed to be self sufficient.
You're reading this right folks, its in billions
This is a taxpayer burden for something that was designed to be self sufficient.
You're reading this right folks, its in billions
"dear mom and dad, having a fun time at college and learning a lot. Please send money"
Not true that the issue is solely its pension obligations
2003 task force warned of the danger which then accounted for $48b of the PS $92b in debt.
45% of PS employees would be eligible to retire within a decade
It now +/-500k retirees
When playing monopoly, beware the banker
2003 task force warned of the danger which then accounted for $48b of the PS $92b in debt.
45% of PS employees would be eligible to retire within a decade
It now +/-500k retirees
When playing monopoly, beware the banker
2006 Postal Accountability and Enforcement Act shifted a $27b pension liability from the PS to the Treasury and required PS to make annual payments of between $5.4 billion to $5.8 billion for 10yrs into a Retiree Benefits
The “CARES Act” already boosted the USPS
statutory debt limit + ability to defer payment of the employer’s share of the Social
Security payroll tax on wages incurred from March 27, 2020, through December 31, 2020.
statutory debt limit + ability to defer payment of the employer’s share of the Social
Security payroll tax on wages incurred from March 27, 2020, through December 31, 2020.
The USPS has plenty of excess capacity. If 60% of the electorate votes (90m people) its only 1% of its avg monthly volume and that was before the pandemic.
"The ongoing decline in the volume of Market-Dominant products and services, which has been exacerbated by the COVID-19...
"The ongoing decline in the volume of Market-Dominant products and services, which has been exacerbated by the COVID-19...
...pandemic...Specifically, declines in FirstClass Mail are largely the result of changes in consumers' and businesses' use of mail resulting from the continuing
migration to electronic communication and transactional alternatives...."
migration to electronic communication and transactional alternatives...."
Moving away from the report, a recent change to its processes is to delay shipping some mail for one day to reduce overtime expenses and improve processes. While this has created hiccups, it is highly unlikely to fundamentally change delivery times.
“Every four years, we always hear from politicians that this is one of the most important elections in our lifetime. In 2012, it really is,” says The New Yorker’s Washington correspondent Ryan Lizza.
http://www.p2012.org/media/frontlinechoice2012pr.html
http://www.p2012.org/media/frontlinechoice2012pr.html
Should the USPS have endorsed Biden, dont they have an inherent conflict? https://abcnews.go.com/Business/wireStory/major-us-postal-workers-union-endorses-biden-president-72380814
Should local police depts have endorsed Trump?
To make the two the same thing requires intellectual dishonesty.
AOC tweeted it, giving moral permission for a person to embrace logical fallacies. https://nypost.com/2020/08/15/alexandria-ocasio-cortez-blasts-nypd-unions-trump-endorsement/
To make the two the same thing requires intellectual dishonesty.
AOC tweeted it, giving moral permission for a person to embrace logical fallacies. https://nypost.com/2020/08/15/alexandria-ocasio-cortez-blasts-nypd-unions-trump-endorsement/
I try & emotionally disengage from 'politics'.
I keep a log of "the fastest roll-up of power in history" and record daily distractions that occupy peoples minds
As many sides as there are in this history, I include so its unimpeachable. Im Thucydides
/end https://twitter.com/adamscrabble/status/1294431780678668288?s=20
I keep a log of "the fastest roll-up of power in history" and record daily distractions that occupy peoples minds
As many sides as there are in this history, I include so its unimpeachable. Im Thucydides
/end https://twitter.com/adamscrabble/status/1294431780678668288?s=20
Oh, I've got one more tweet!
About those letter sorting machines, it was already on the kill list: "Additionally, we continue to invest in upgrades of letter sorting equipment that is at or near the end of its useful life"
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This from the 10k annual report
https://about.usps.com/what/financials/10k-reports/fy2019.pdf
About those letter sorting machines, it was already on the kill list: "Additionally, we continue to invest in upgrades of letter sorting equipment that is at or near the end of its useful life"
\\
This from the 10k annual report
https://about.usps.com/what/financials/10k-reports/fy2019.pdf
Lastly, I see in some replies "trump wants to cut", please include that "Obama wanted to cut too.." https://www.wsws.org/en/articles/2012/03/post-m22.html
Update: the earlier tweet was the endorsement of the Letter Carriers.Here's the big fish...
"The American Postal Workers Union’s National Executive Board has voted to endorse Joe Biden for President of the United States." https://apwu.org/news/apwu-executive-board-endorses-joe-biden-president
