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Old 10-05-2012, 02:25   #24
jpa
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Location: Las Vegas NV
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Quote:
Originally Posted by sourdough44 View Post
The USPS missed a 5 Bil $$ payment the other week. Do we need another reminder we are out of money? We can't continue to borrow 40 cents on every dollar spent. I realize few want to really cut anything, Europe here we come.
The USPS is learning a hard lesson about not using funding for long-term liabilities to pay for operating costs. That's the same problem a lot of states are getting themselves into. Without the power of compounding returns on their investments, the bill that's going to come due is only going to get bigger and bigger. They need to suck it up, fund pensions fully and move forward. The politicians who used the pension contributions to pay for pet projects, new programs and random other bureaucratic nonsense need to go to jail.
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