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Kenneth Corbin is a freelance writer based in Washington, D.C. He has written on politics, technology and other subjects since 2007, most recently as the Washington correspondent for InternetNews.com, covering Congress, the White House, the FCC and other regulatory affairs. He can be found on LinkedIn.
Yet NO one is addressing the main reason the PO is in the red, 75 yr pension plan. I’ve seen it posted all over the internet yet not one word from congress
Cutting costs? Sure.
I’m in a rural area. Our main street has not mail delivery–you must pick it up at the PO. Why? Because they don’t have a pedestrian mail person to deliver it. (Savings)
Our carriers drive their own vehicles,mostly station wagons & SUVs. This often results in having to go back to the PO to reload more packages–sometimes 2 or 3 times each delivery day. If they don’t finish their route–they have to drive 15 miles away to the main PO near the airport to unload undelivered mail. This has to then be re-delivered to the local PO, resorted & reloaded into personal vehicles for the next delivery day.
Recently, a mandate came down that our carriers were not to drive up a driveway to deliver packages/mail. Why? Because in more congested areas accidents were occurring in driveways. But we’re in a rural area–many houses & farms are located down long driveways. It would be impossible for carriers to walk packages down the long driveways and back to their cars in the summer–let alone in our winter snows.
Then there was the announcement that they’d close the local branch for lunch. That one was rescinded.
Pensions? OK–let’s talk pensions. When those plans were put into place vehicles used for long-term planning were “safe bets.” They were invested in market funds that had slow but relatively safe growth. Then came the wolves of Wall Street who talked the keepers of those funds into investing in riskier vehicles. The funds evaporated, some of the wolves went to jail. The money went somewhere…..but was never seen again. The “whales” were not only the PO. They hit many of the companies who held pension funds.
Pensions are part of a benefit package used as an incentive for hiring. Managed correctly, they would ave been self-sustaining. How many “pension” funds in America have been re-routed into the hands of those looking to dip into someone else’s pocket? Anyone hear know why out Social Security funds are short?
Don’t knock pensions & funds such as these unless you have learned your history lessons. Gets a little tiring to hear the Millennials bash the Boomers about “being privileged.” The Boomers were following the rules set by those who made promises & commitments and then failed to follow through.