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Politics : Mainstream Politics and Economics
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To: JBTFD who wrote (14617)4/4/2012 2:59:07 PM
From: TimF  Read Replies (1) of 85487
 
If you remove it how does the Post Office's (former) employee's pensions and health benefits get paid for? Right now the feds pay it. If the Post Office doesn't pay the feds it comes from out tax money.

The post office has an increasing future burden of benefit obligations because of the generous union contracts. It also has a shrinking revenue stream. If it doesn't put the money aside now then those benefits either won't be paid for (eliminated through a bankruptcy) or much more likely the government will pay it, either through its current scheme or through the PBGC.

I could see the payment going away, even being refunded for previous years, if the postal uninons could accept no federal guarantee (at least not the current payout plan, rather than the more limited PBGC coverage that former employees of fully private companies get), and at the same time the USPS gives up its monopoly. But as long as it has its current status and government support it should cover the costs for its future retirees by payments to the government.
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