Sourcehttps://mailomg.com
WASHINGTON, DC — In announcing its fiscal first quarter results, the USPS said is in pursuit of further administrative and legislative reforms to remedy outdated and unwarranted financial and regulatory burdens that negatively impact our liquidity as we continue to strive to serve our customers in a fiscally responsible manner.
These reforms include: changes in retiree pension benefit funding rules for the Civil Service Retirement System (CSRS) benefits, diversification of pension asset investments, raising the statutory debt ceiling, and workers’ compensation administration reform.
Sourcehttps://mailomg.com
It’s unlikely that these issues if resolved in the USPS’S favor will result in anything near break even. Two of these are in fantasyland. The USPS has hit their debt ceiling and haven’t indicated if or when they’re planning to pay it back; they don’t have the money. Why would they be allowed to borrow more? Everyone knows worker’s comp is a mess and the USPS has the highest incidence of claims in the federal government. While some of this is justified, the numbers ballooned when radicals in labor relaxed hiring standards, allowing tens of thousands of unqualified applicants access to jobs and thus a pipeline to free money through phantom claims. This is only one aspect of the two tiered workforce that has eroded service and actually increased costs in the postal service. The USPS wanted it, and now they want someone else to pay for it.