The Post Office
President Trump stepped up his long-running battle with Amazon, ordering a federal task force to investigate the Postal Service’s finances. Actually that’s misleading as the battle is really with the Washington Post and its coverage of him. Jeff Bezos owns a controlling interest in both Amazon and the Washington Post, so Trump attacks Amazon.
One problem with the Postal Service is that while Trump nominated three to USPS Board of Governors in October of 2017, he still hasn’t nominated anyone for the other six positions. The Board of Governors oversees Postal operations.
The Postal Service has financial issues that were intentionally caused by Congress as part of a push to privatize it. The Mail Handlers know what the problem is:
… The most immediate step to secure financial relief and sustainability for the USPS would be to address the 2006 Congressional mandate to pre-fund retiree health benefits 75 years in advance – an onerous burden that no other private or public entity in America is required to carry.
For those who don’t follow these things, when private equity firms or hedge funds or other vulture capitalist entities take over a company they raid pre-funded pensions first and then start selling off parts of the company and mortgage what they can. This is the process that bankrupts large companies like Sears, Toys-R-Us, and major newspapers.
April 15, 2018 8 Comments
Happy Birthday
Property and Excise are 11 today.
Your taxes aren’t due until Tuesday, the 17th because tomorrow is Emancipation Day, a local holiday in Washington DC.
The theme music for the day on YouTube.
April 15, 2018 5 Comments
