There's a dastardly conspiracy afoot to shut down the United States Postal Service, Lefty screamer Ed Schultz has informed his MSNBC audience. The culprits? Republicans, match. The USPS recently announced its decision to end Saturday mail service, an attempt to stanch its years-long budget bleeding; the federal entity lost $16 billion in 2012. Though this move is only projected to save the Post Office roughly $2 billion annually, it's still an important nod to reality. I discussed this issue on CNBC last night, where even the liberal panelist seemed to agree that major reductions are in order and...
Regarding the 2006 legislation, Mr. Benson claims that it “requires the Post Office to employ honest accounting on its pension and benefits obligations and fund them in real time, rather than use gimmicks to hide the true cost and shove them off to some future date.” Oh, really? As I understand it, what the legislation did was require the Postal Service (get the name right, Benson) to fund health insurance and retirements for employees for the next 75 years, and get the funding done in the first 10 years. Is that what Benson sees a prudent and sustainable business model? Can he point to any business that would deliberately choose?
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