The U.S. Postal Service posted a $2.2 billion net loss in its second quarter and said it might be unable to pay its debts by September.
It expects to hit its borrowing limit by the September 30 end of the fiscal year, and will have to default on payments to the federal government unless Congress intervenes.
The Postal Service said operating revenue in the second quarter, which ended March 31, fell 2.8 percent compared to the same period in 2010 to $16.2 billion. Mail volumes fell about 3 percent compared to the second quarter of 2010, the agency said.
Bottom line: It's time to pull the monopoly the U.S. post office has on mail delivery and allow anyone who wants to get into the business to do so. End the Post Office monopoly!
Won't it take a Constitutional Amendment to do so though?
ReplyDeleteConstitutional Amendment or not, if you don't have the money, your not paying anybody.
ReplyDeleteArticle I Section 8 authorizes the Congress to "establish Post Offices and post Roads". It does not give it the exclusive authority to manage all first class mail delivery in the country.
ReplyDeleteFront door or back door, and this will be done through the back door, it is still the same thing.....more QE
ReplyDelete-Craig
Article I, Section 8 says: "The Congress shall have Power... To establish Post Offices and post Roads". No mention of monopoly.
ReplyDeleteBetter eMail the Fed for an electronic bail out...
ReplyDeleteMan, I hate the post office. Shitty hours, shitty service, and inability to operate without losses do not make a good enterprise, government run or not.
ReplyDeletePost Office is definitely not the safe job it use to be huh? I am sure even their former offices will be in foreclosure too.
ReplyDeleteYes allow private enterprises to compete. We would eventually see a DECLINE in postage. God Bless America!
ReplyDeleteDear Sirs,
ReplyDeleteWe recently bought a house in Linden, VA. The previous owners, rather than deal with the Linden Post Office, kept a mailbox in the county seat of Warren. Now, I know why. We had been having a great deal of trouble getting companies to mail things to us because they kept saying our address was invalid. My boyfriend had spoken with the post office, the carrier on route, etcetera and he was told where to put the mailbox. Weeks went by...no mail. It had already been forwarded, but was not being delivered. From our mailbox, in a community of only 5 houses on the mountain, is about a 1/10 of a mile...so instead of the carrier simply driving up here to see if anyone was home to straighten out what was happening...nothing. I finally did a Google search and found the Address Management Division. Spoke to nice person in Dulles, VA who explained that until our local Post Office updated our address in their "Red Book"-no idea- and forwarded it to them, which might take another week, there was nothing he could do. So...back to the local Post Office, where I spoke with the Manager. She proceeded to tell me, among other things, that "until we receive the Customer Comment Card, nothing happens"-never mind the fact the we had already forwarded our mail using the official Post Office website and paying for the privilege- and "nothing happens without going through me and this post office first." So if you want to know why your mail is late, stained, destroyed or you are paying $8 Billion a year for a service that does not work, now you know. It doesn't happen because it didn't go through the Linden, Virginia Post Office.
Reminds me of an old saying: Use it up, Wear it out, make it do or do without.... seems like we might be able to do without the post office and let UPS and American Express pick up the extra! I am tired of the bailouts and frankly I don't care WHO they are going to!!
ReplyDeletethe post office recieves no federal money. it is self sustaining, even as it is no losing money. With prefunding of retiree healthcare excess of over 70 Billion dollars,yes that's a B, it will take a while for the post office to be insolvent.
ReplyDeleteIt takes 44 cents for a letter, but junk mail qualifies for a big discount. If a company wants to send junk mail make them pay 44 cents per oz.
ReplyDeleteEither the revenue goes up or volume goes down. win-win situation.
The post office isn't a business it's a part of freedom. sure if you send a post card no problem but do you really want to depend on a privately owned company to handle personal things like unemployment checks and medical records private companys want to make money before you know it you'll be getting flyers from funeral homes along side of you lab reports
ReplyDeleteI totally agree with allowing anyone who wants to go into this business. Seems like they could not sustain their own operations anyway.
ReplyDeleteMismanagement is the main reason!
ReplyDelete