Monday, September 12, 2011

"...Not A Damn Thing Wrong With The Post Office"

NRO, September 6, 2011- It’s not news that the United States Postal Service is going bankrupt, but this week, the reality of the situation finally started to sink in. The New York Times reported that the agency cannot afford a $5.5 billion pension-fund payment that’s due this month.

At the core of the problem are the horrific contracts the agency has negotiated with its employees’ unions. As the Times reported:

Decades of contractual promises made to unionized workers, including no-layoff clauses, are increasing the post office’s costs. Labor represents 80 percent of the agency’s expenses, compared with 53 percent at United Parcel Service and 32 percent at FedEx, its two biggest private competitors. Postal workers also receive more generous health benefits than most other federal employees. >>>>>>>>[Read all]