(CNSNews.com) ? The U.S. Postal Service (USPS) currently owes $99.8 billion in benefit payments to its current and retired workers but does not have the money, and if Congress does not act to fix the problem, the Postal Service may have to ?implement contingency plans to ensure that mail delivery continues,? according to a new report by the Government Accountability Office (GAO).
?At the end of fiscal year 2013,? said the GAO, ?USPS had about $100 billion in unfunded liabilities: $85 billion in unfunded liabilities for benefits, including retiree-health, pension, and workers? compensation liabilities, and $15 billion in outstanding debt to the U.S. Treasury?the statutory limit.?
?USPS continues to be in a serious financial crisis, with insufficient revenue to cover its expenses and financial obligations, a continuing decline in profitable First-Class Mail volume, increasing unfunded benefit liabilities, and borrowing limitations due to having reached its $15 billion statutory debt [borrowing] limit,? said Frank Todisco, a GAO chief actuary, in prepared testimony before the House Subcommittee on Federal .............................................................
they should just let the benifits run out like they did the extended unemployment benifts. That affected 2.7 million americans. GOP and Boenhner didnt give two shits about them
what makes postal workers so gilded
and if yyz is a example, I think I got a good idea what the problem is
