Sunday, July 19, 2009

Going Postal? U.S. Postal Service Seeks
Bailout; Could Miss October Payroll

Via NewsAlert, this shocker:
Four unions representing the nation's postal workers are pleading for a meeting with the White House to address possible funding shortfalls for workers' payroll and retiree health benefits, according to a letter obtained by CongressDaily.
The presidents of the American Postal Workers Union, National Rural Letter Carriers' Association, National Association of Letter Carriers and National Postal Mailhandlers Union co-signed the Tuesday letter to White House Deputy Chief of Staff Jim Messina, warning that the U.S. Postal Service is at risk of defaulting on a $5.4 billion payment to prefund retiree health benefits at the end of September.
The letter alleges that USPS "may not be able to make payroll in October and will be forced to issue IOUs instead." . . .
Read the whole thing. Imagine that: A taxpayer-subsidized, union-dominated, government-regulated monopoly having financial problems . . .

It's a crisis! Wonder if the president has those cardigans ready?


  1. Wait! What's wrong with Miss October???? I hope she's okay!

  2. And where's her picture? Is the link bad?

  3. The Postal Service does not receive a taxpayer subsidy. It's been relying on postage since the 80's.

  4. "The agency asked Congress last week to allow it to dip into a trust fund to pay for its retirees' HEALTH CARE"
    Let me repeat that "to pay for retirees Health Care"