Saturday, August 12, 2017

Postal Service Will Become The Taxpayers' Problem Soon

News
The US Postal Service warned that it will most likely default on payments for future retiree health and pension benefits for the fifth straight year on Thursday. Their growing cash crunch, a trend that infects a large portion of the public sector, could disrupt mail delivery as early as the fall of 2007.

While social is position as means of helping the poor, an admirable goal, it consistent fails throughout history due to greed and corruption that eventually infects all forms of governance. The pension crisis brewing throughout the public sector stems from a growing mismatch between incoming dwindling cash flows and expanding benefits within an increasing pool of retirees. The Postal Service is a high profile example of the pension Ponzi scheme based on other people’s money (OPM). The public sector will soon panic by raising taxes in an economic contraction when the never ending pool of OPM dries up.

Headline: BRIEF-U.S. Postal Service reports revenue of $16.7 bln for Q3

* U.S. Postal Service - reported revenue of $16.7 billion for Q3 of fiscal year 2017, essentially flat compared to Q3 last year​

* U.S. Postal Service says "growth in our lower-margin package business is not sufficient to make up for accelerating mail volume declines"​

* ‍U.S. Postal Service - postal service reported net loss for quarter of $2.1 billion, an increase in net loss of $573 million, compared to same quarter last year​


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