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August 06, 2011

Nor Rain, Nor Snow, Nor Taxpayer Revolt ...

I heard this ad from the American Postal Workers Union (APWU) on the way to work the other day and about wrecked the car:

Seems Darrell Issa didn't care for it much either.

Not a single cent of taxpayer dollars, huh? Then how do you explain this, you lying bastards?

The US Postal Service warned on Friday that it could default on payments it owes the federal government, just days after the US government itself narrowly averted a default.

The government's mail service said it lost $3.1 billion in the period from April to June, blaming "the anemic state of the economy" and the growing popularity of electronic communications over old-fashioned letters.

As a result of its mounting losses, the US Postal Service said it would not be able to make a legally required $5.5 billion payment in September to a health-benefits trust fund.

Oh. The federal government just fronts the USPS workers' (read APWU members') health benefits with taxpayer dollars that the USPS can't reimburse.

Got it!

The entire bloated, corrupt enterprise that is our federal government is about to unravel in front of us. And it's going to be ugly.

More to come.

Update: By comparison, while the USPS was busy losing $3.1 billion, FedEx made $865 million pre-tax in its fourth fiscal quarter ended May 31, 2011.


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posted by Andy at 01:15 PM

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