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Chris Wysocki
Caldwell, NJ
The nine most terrifying words in the English language are "I'm from the government and I'm here to help." - Ronald Reagan
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Friday, 16 November 2012
The Pony Express lost another $15.9 billion dollars this year
In Wednesday's mail I received a letter that was sent on October 3rd. From South Jersey. Yeah, 45 days to go less than a hundred miles sounds about right.
Maybe that explains this:
Postal Service reports $15.9 billion annual loss
The Postal Service posted a record net loss of $15.9 billion in fiscal 2012, much of it due to massive payments the mail agency could not make but still must account for in financial statements.
That is more than triple its $5.1 billion loss last year.
The USPS, which relies on the sale of stamps and other products rather than taxpayer dollars, has been grappling for years with high costs and tumbling mail volumes as consumers communicate more online.
Postal officials have been scrambling to cut costs and boost other parts of the business, such as package delivery, but it has not been enough to staunch the losses. The USPS on Thursday repeated its call for lawmakers to quickly pass legislation overhauling the agency's business model.
They think they're a private business. But Congress thinks they're still a government agency. And Congress won't let go.
Must be that Franking Privilege. Politicians love free stuff, especially when it's free stuff for them.
Why not break up the Post Office like we did with AT&T? Delivering mail in New York City poses completely different challenges from delivering mail in rural Montana. And there's no reason it should cost the same to send a letter cross-town or cross-country. Unless somebody smarter than Congress can figure out a way to make that business model profitable…
Oh, who am I kidding. The Post Office isn't in the mail delivery business. They're in the pension and health insurance for old mailmen business. And there ain't nobody who can make that profitable. It's only gonna get more expensive with every passing year. You can't privatize government pensions. Not yet, anyway. Not until the bottom really falls out.
Want some more interesting news? Four of the five top execs at USPS got hefty raises this year. But of course. Rewarding failure is what government does.
Man, I can't wait for the government to start running health care. We'll
wish they'd only lose $16 billion a year!
Posted at 13:58 by Chris Wysocki
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