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Politics : Mainstream Politics and Economics
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To: JBTFD who wrote (14735)4/5/2012 11:56:04 AM
From: sm1th2 Recommendations  Read Replies (2) of 85487
 
That they are being asked to carry a burden that no company in history has been asked to do answers it for me.

You keep repeating that claim with no substantiation. Without looking at the full value of their liabilities, it is impossible to asses the fairness. You may be right, but your argument will not convince anyone until you back it up with data. The essence of the dispute is captured in this sentence from a GAO report.

"The USPS OIG has stated that the allocation of responsibility for CSRSbenefits required by the 1974 law (see table 1) is not appropriate and that the effects of post-1971 salary increases on pension benefits attributableto pre-1971 service should be the responsibility of the federal government."

The law that separated USPS from the federal govt required USPS to pay the full cost of any pension increases brought by raises after 1971. USPS is now claiming that the taxpayers should bear the burden of over generous raises given after the USPS was independent. The entire claim of over payment to the pension fund is based on shifting $50B to $85B from the USPS to the taxpayers. USPS didn't have to sign no layoff contracts and give raises it can't afford. In the end, the taxpayer will get screwed, but don't try to claim that USPS was treated unfairly.
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