USPS-A Fascinating Expose

The USPS is failing!!! The headlines have been screaming this and I, like probably most other Americans, believed this to be true to some extent.

I couldn't exactly figure out how it was losing as much as it was, I knew pensions, less letters being sent, etc. were all hurting it, but the numbers were pretty staggering.

Well, this article explains the REAL reason the Postal Service is facing such huge deficits, tricky Washington accounting.

The USPS is being forced to make payments for the next 75 years of health coverage over the next 10 years. Yes, the next 75 years in 10 years. The money is being siphoned over to help out with the Federal deficit. Money can go from the Postal Service, but not too it.

The article points out if it wasn't for the insane payments, the Postal Service would've posted a $1 billion profit instead of a loss last year.

A fascinating read and a nice honest look at why this venerable institution is struggling.