Barbara Monaco

The US post office is older than the country itself. After 251 yrs it's crumbling. It receives no tax payer funding, and its burdensome pension structure is different from all other government agencies.
Postal Service's financial crisis requires immediate attention. The new Postmaster, who sits on the board of Fedex, wants to raise stamp prices to 95 cents and gain the ability to borrow more money to cover its obligations. Service standards will likely be lowered.
#usps

https://apnews.com/article/mail-usps-pensions-financial-crisis-da601e2b88f3420898757dbdb09fa518

USPS to suspend pension contributions, seeks 4-cent stamp price hike

The U.S. Postal Service has decided to temporarily suspend its contributions to Federal Employees Retirement System annuities. This move is aimed at preserving cash and liquidity amid a severe financial crisis. Officials warn the USPS could run out of cash by February 2027. The Postal Service also hopes to increase postage rates, including raising the price of a First-Class Mail Forever stamp. Despite the suspension of the pension payment, current and future retirees will not be immediately impacted. The Postal Regulatory Commission has also granted a waiver in a related matter, allowing USPS to redirect revenue previously earmarked for retiree benefits, providing some financial flexibility.

AP News
Apr 10 at 12:10amWeb
Show threadFallsMom 🌻5d ago

@Barbramon1

I am afraid if USPS catches the attention of "potty mouth" it could be. . shut down? privatized to one of his cronies? 😔

Show threadBarbara Monaco5d ago
@FallsMom Some say that pension funding changes that republicans legislated in 2006 marked the beginning of the end of the USPS. Trump and other republicans have already advocated for privatization.
Unless immediate action is taken to shore up finances, they may get their wish.
While researching the issue I discovered that this year Denmark eliminated its physical postal service and adopted an all email system. A private carrier delivers letters, with postage costing the equivalent of $3.60.
Show threadBarbara Monaco5d ago
@FallsMom Of course Denmark is a tiny country geographically with a population of only 6 million.
Show threadFallsMom 🌻5d ago

@Barbramon1

Yes, I think of the effect on people in rural places here. . .

Show threadBarbara Monaco5d ago
@FallsMom Rural areas always bear the brunt when government services are cut. I wonder how many rural residents are even aware of the situation and how it could affect them.