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Trump eyes privatizing United States Postal Service during second term
(www.theguardian.com)
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this post was submitted on 14 Dec 2024
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Thats not even a true statement.
The postal service makes money, but any surpless is automatically taken by Congress.
In the early 2000s the GOP passed a law requiring the postal service to upfront load the retirement funds of new employees, creating a massive debt burden.
Also, Congress has removed their ability to modernize equipment and fleets, forcing them to continue repairing aged equipment.
Not to mention, DeJoy, Trump's installment during his first term, has done everything he can to dismantle any modernization because he wants the Post Office sold at rock bottom prices so he can buy it, get this, because he owns competing companies.
They're getting those new electric trucks though.
Which Trump is already talking about cancelling the contract for…
And the company making them isn't doing the best job at it... Even though they got a shot ton of money and have only made like 90 of these things of the 3000 they are contracted for
They were getting new electric fleets, the Umpa-lumpa in chief already said hes canx'ing that.
I, too, have trouble remembering how many "L" s are in canceling.
Education is being defunded too.
Further reading: https://www.nalc.org/news/the-postal-record/2022/may-2022/document/Postal-reform.pdf
I skipped to the part about 2003 - if my reading comprehension is right, USPS was in the black. When congress noticed, they made financial magic by using the pension funding mandate to help hide how bad the federal deficit had ballooned during that administration? This is such political theater.
Yeah, I consulted chatgpt for sources on the history behind why that 75-year funding requirement was enacted. The other link it gave me was this: https://www.epi.org/press/news_from_epi_retiree_health_pre-funding_is_primary_cause_of_usps_shor/
Was there a better reason Pension Funding was even brought up as an issue worth legislating for? Was there some scare trend of businesses scamming people out of their pensions? Source?