Quote:
Originally Posted by kane
Their primary problem is that they have $50 billion dollars in unfunded pensions. All these years workers have been retiring from the USPS and the USPS never set aside the money to pay for those pensions. Now the bills are coming due and their revenues are way down.
There is no way they can ever dig themselves out of the hole they are now in.
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Bingo. Also losing a lot of letter business has helped the Post office not hurt it. They dont make money on delivering 44 cent letters. They make money on packages, which they have kept up good with. Yeah less people send letters but there are many more packages as people buy products online more now. Another huge problem is the bloated government wages they give the workers.