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USPS to cut Saturday mail beginning in August

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Posted: #26

I may be slightly misinformed...it appears they receive roughly $100 milllion in tax dollars to cover costs of free mailings for legally blind persons and mail in voter ballots.

But dont worry, when they need a bail out just like wall street or the automakers we will be footing the tab once again

 
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Posted: #27
The deficit @ USPS comes from the Congressional mandate that the pension fund be funded for 75 years.  

Congress thinks it is a good idea to make the USPS pre-fund pensions for the 2080's, oh yeah,  and have it done in 10 years.  

USPS runs a profit every year if it was not for the pension fiasco. 

Oh, and on a side note, Everyone getting hired for the past 5 years is not eligible (as of yet) for any sort of pension,  nor does the time in the position carry over if by some stroke of luck you were to find yourself in a Permanent position (which are currently filled by 65 year olds trying to max their pension).  

The postal system is failing because it is weighted down by asinine mandates from washington, and is suffering one of the worst voids of leadership that I have ever seen. 


 
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Posted: #28
-political mail
-congressional mail
-free mail for life for all presidents
- ballots
-census
-voter registration
-taxes
etc.  



 
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Posted: #29

yes rick,

As I am reading and getting more educated on the subject I find it shocking that the bleeding has been occurring for quite some time now.

 

 
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Posted: #30

They reached their debt ceiling borrowing limit last September to the tune of $15 BILLION.

 

 
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Posted: #31
rick,

I have to side with congress on this..

Forward funding pension obligations is a smart idea..I approve of it.

What we do now in many public and private companies is make promises, extract labor, bail on the obligations via BK and stiff the workers.

We should applaud proper funding of ALL obligations, it is the proper way to handle an obligation and it is what we should want for anyone involved in the pension form of retirement funding.
 
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Posted: #32
Quote Originally Posted by rick3117:

The deficit @ USPS comes from the Congressional mandate that the pension fund be funded for 75 years.  

Congress thinks it is a good idea to make the USPS pre-fund pensions for the 2080's, oh yeah,  and have it done in 10 years.  

USPS runs a profit every year if it was not for the pension fiasco. 

Oh, and on a side note, Everyone getting hired for the past 5 years is not eligible (as of yet) for any sort of pension,  nor does the time in the position carry over if by some stroke of luck you were to find yourself in a Permanent position (which are currently filled by 65 year olds trying to max their pension).  

The postal system is failing because it is weighted down by asinine mandates from washington, and is suffering one of the worst voids of leadership that I have ever seen. 


The republican controlled congress did this in 2006 to bankrupt the postal service and put them out of business.  They have been charging rates that are way to low for to long.

 
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Posted: #33

I agree with you on this, but the republican controlled congress wanted it to be done to fast, knowing full well they wouldnt be able to do it.

The republicans have been wanting to bust one of the last of the big unions up

 

 

Quote Originally Posted by wallstreetcappers:

rick,

I have to side with congress on this..

Forward funding pension obligations is a smart idea..I approve of it.

What we do now in many public and private companies is make promises, extract labor, bail on the obligations via BK and stiff the workers.

We should applaud proper funding of ALL obligations, it is the proper way to handle an obligation and it is what we should want for anyone involved in the pension form of retirement funding.

 
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Posted: #34
Would you want to pre-fund liquor purchases at a bar on the Titanic?  

It is stupid.  

They should move to a 401K plan. 
I admit I am biased. I can't really speak objectively on the issue.  
As a postal worker (for the time being)  I can say that I would much rather not have taken a 27% pay cut to pay for Obamacare or a pension that I will never see.  





 
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Posted: #35
Quote Originally Posted by lordspoint:

I am saying that through taxation you pay a much higher price than the .45 cents you spent for that one letter....you know that Slim....you are too smart not to my man.

We basically have universal mail care where  we all pay the same subsidized amount for a letter.

Lordpoint, of course I realize that ..and I'm not disputing it.

Nor have I girled about taxes or tax increases..only the junk mail...and the fact that .45 centovos to send a letter from Hawaii to the US East coast is a bargain..

 ...and as of right now no private company like - FedEx/UPS-  has shown interest in delivering letters everywhere in the country for a set rate of 45 or 46 cents for a first-class letter.

But, thanks for paying your fair share to get me that low rate ..

 
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Posted: #36
Wall, I do agree to an extent.  

You don't think that a pre-funding of 25 years would be more viable. 

Inflation alone makes planning for 75 years a joke.  
 
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Posted: #37
bitched
 
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Posted: #38
Quote Originally Posted by SarasotaSlim:

Lordpoint, of course I realize that ..and I'm not disputing it.

Nor have I girled about taxes or tax increases..only the junk mail...and the fact that .45 centovos to send a letter from Hawaii to the US East coast is a bargain..

 ...and as of right now no private company like - FedEx/UPS-  has shown interest in delivering letters everywhere in the country for a set rate of 45 or 46 cents for a first-class letter.

But, thanks for paying your fair share to get me that low rate ..

Girled?

I thought you were trying to say bitched and it was a new censor autocorrect. 

lol 
 
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Posted: #39
Quote Originally Posted by lordspoint:

Dont girl about taxes or tax increases if you liked the good "bargain"

No such thing as a free lunch

Rick, it was in reply to Lordspoints comment ..lol

So, I coined a new one ..

 
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Posted: #40
Slim - u r welcome ;)
Yes the word b*tch is automatically changed to girl. Isn't that sexist?
Last I knew the definition for b*tch was a female dog.
Now I have to look it up....
 
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Posted: #41
B*tch can be defined as a lewd or immoral woman.
Sorry - I am off topic.
I suggest instead of girl they should use Pelosi
 
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Posted: #42
Wait a sec - these prepayments are to cover future retiree medical costs. Is this addressed any where in Obamacare?
 
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Posted: #43
Maybr only require they fund their future liabilities for 10 years and raise rates as needed.
It seems that they possibly operate at a profit if you take this liability out?
What's the true cost of the liability?
These are things we need to know and I am tired of reading
 
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Posted: #44
rick,

I agree about 401k's although I dont think 401k's can properly fund future needs..and companies arent really pitching much in..

17k a year will take MANY years to build up enough money to properly retire.

I like 401k's but companies need to contribute more and the limits need to be higher.
 
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Posted: #45
Quote Originally Posted by wallstreetcappers:

rick,

I agree about 401k's although I dont think 401k's can properly fund future needs..and companies arent really pitching much in..

17k a year will take MANY years to build up enough money to properly retire.

I like 401k's but companies need to contribute more and the limits need to be higher.


Let them take money away from the pensions of those greedy bass turds at the state colleges. They don't need no 25k per MONTH.

How is it that I'm the only one alarmed by that?
 
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Posted: #46
because you dont think big picture
 
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Posted: #47

Quote Originally Posted by wallstreetcappers:

rick,

I agree about 401k's although I dont think 401k's can properly fund future needs..and companies arent really pitching much in..

17k a year will take MANY years to build up enough money to properly retire.

I like 401k's but companies need to contribute more and the limits need to be higher.

What is the dollar amount to "properly retire" anyway?

There are very, very few Americans who save $17,000 per year for retirement. And if you saved that amount for 30 years you would have ~$750,000 assuming about 6% return.

I'm not sure what you were trying to say with that.

 
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Posted: #48
Quote Originally Posted by 14daroad:

What is the dollar amount to "properly retire" anyway?

There are very, very few Americans who save $17,000 per year for retirement. And if you saved that amount for 30 years you would have ~$750,000 assuming about 6% return.

I'm not sure what you were trying to say with that.



Two things..

6% returns are not reasonable in this low rate turbulent environment and I dont consider 750k enough to retire on.

How long would 750k last if you had to slow down the risk and go into bonds?

Right now bond funds are returning what 1-2% or at max 3-4 if you risk in corporate junk?

750k with ANY kind of long term health need would be vapor in 5 yrs.

I think the 401k rate needs to be up to 30k plus and it would be extra fun if corporations pitched in more than 1%..

My inlaws are retired, they worked in the government for 25 yrs. One has a pension, the other a 401k as the government switched off pensions. Their buying power has eroded over the last 10 years since retiring and now they are at a net draw vs being able to live off the small SS (one does not get SS because of the pension) the pension and interest off their 401k balance.

I dont consider being able to retire and not worry as much on less than a million..
 
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Posted: #49
Quote Originally Posted by dl36:

because you dont think big picture


Of course I do. Have you seen how much it costs for a college education these days?


 
 
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Posted: #50

How long would 750k last if you had to slow down the risk and go into bonds?

 

It is all dependent on your spending habits.

Again, there are so few Americans who retire with anything approaching $750,000. Which I am assuming is causing SS to go bankrupt. Medicare is already there.

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