United States Postal Service
The United States Postal Service is once again threatening to scale back service due to budget shortfalls.
Earlier this year the postal service warned that it would cut Saturday delivery if it didn’t get an emergency infusion of cash from the federal government to pay off its staggering debts.
Last week the USPS announced that, as part of a $3 billion cost-cutting plan to help it avoid bankruptcy, the agency planned to eliminate one-day delivery, such that all letters would be delivered in a minimum of two days, even if they’re only going next door. To get your letter delivered by the next day, you’ll have to go to the nearest processing center and drop off your letter before final pickup, thus carrying out half of the mail delivery service yourself.
Complicating matters, the postal service expects to close half of its processing centers and reduce its workforce by 100,000 employees over the next few years through layoffs, attrition, and retirement.
The postal service has known about its financial woes for years. Yet statist Congresses have forbidden it from taking effective action to right its situation. Its current debt is a result of its failure to make $5.5 billion in annual payments to cover its insanely generous retiree packages.
Many USPS sympathizers insist we should do anything we can to preserve this great American institution. Senator Susan Collins, RINO of Maine, has proposed the 21st Century Postal Service Act of 2011. Recently she wailed, “Time and time again in the face of more red ink, the postal service puts forward ideas that could well accelerate its death spiral.” read more »