The U.S. Postal Service Is Going Bust. Blame Congress

[Ruralinfo]

The U.S. Postal Service is again barreling toward insolvency, and on Friday it reported a $2 billion quarterly loss. “We are in a cash crisis,” Postmaster General David Steiner said. “We require urgent Congressional action to expand our borrowing authority and to address outdated constraints on the organization.” The important part for lawmakers to hear ... Read more

The U.S. Postal Service Is Going Bust. Blame Congress - Ruralinfo.net

The U.S. Postal Service is again barreling toward insolvency, and on Friday it reported a $2 billion quarterly loss. “We are in a cash crisis…

ruralinfo.net

 

[calimailman]

The U.S. Postal Service is again barreling toward insolvency, and on Friday it reported a $2 billion quarterly loss. “We are in a cash crisis,” Postmaster General David Steiner said. “We require urgent Congressional action to expand our borrowing authority and to address outdated constraints on the organization.” The important part for lawmakers to hear ... Read more

The U.S. Postal Service Is Going Bust. Blame Congress - Ruralinfo.net

The U.S. Postal Service is again barreling toward insolvency, and on Friday it reported a $2 billion quarterly loss. “We are in a cash crisis…

ruralinfo.net

Congress definitely to blame for the PO finances and current state. The irony is they are asking the culprit for help to "right the ship" so to speak.

Maybe the new USPS strategy hire from FED EX can encourage the PMG from UPS to lobby congress for the following reforms.
Instead of starting at cutting jobs, salary from carriers and closing post offices around the nation they can start with this.....It was a simple AI google search I did regarding how money paid into the pension fund is invested.

Enjoy!!!

****If the USPS retirement funds (CSRS, FERS, and PSRHBF) had been invested in a diversified mix of 60% stocks and 40% bonds instead of exclusively in U.S.
Treasury securities, they could have had an estimated $1.2 trillion in assets by the end of fiscal year 2022.
This alternative approach would have drastically changed the financial outlook compared to the actual $298 billion in assets under the current restricted investment strategy. ®

Key Findings on Potential Gains:

• Massive Surplus: Instead of facing large underfunded liabilities, a 60/40
  mix could have resulted in a $963
  billion surplus by the end of FY 2021.***