Re: Post Office Nears First Default in Its History

2012-07-19 Thread Cameron Childress
Interesting - this is what I was looking for thanks! On Thu, Jul 19, 2012 at 1:11 PM, Sam wrote: > Found this summary at NRO (right wing rag): > > Congress required ten years’ worth of these “pre-funding” payments in > a 2006 law, largely because USPS’s business was shrinking and future > reven

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Cameron Childress
On Thu, Jul 19, 2012 at 1:07 PM, Larry C. Lyons wrote: > I will give credit where credit is due I think you meant to say blame here, and I'm really not interested. -Cameron ... ~| Order the Adobe Coldfusion Anthology now! h

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Sam
Found this summary at NRO (right wing rag): Congress required ten years’ worth of these “pre-funding” payments in a 2006 law, largely because USPS’s business was shrinking and future revenues couldn’t be expected to cover benefits. Until that point, USPS had been operating on a “pay as you go” mo

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Larry C. Lyons
I will give credit where credit is due, e.g., the surge in Iraq, but in this case what has happened was the direct result of a bad law and bad presidential decision. I hope that I would make the same judgement in 6 years with some of Obama's decisions. The point is that if the post office is not

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Cameron Childress
Thank you for not answering my question and continuing to blather on about your hate for Bush. Lastly, thank you for the reminder of why I haven't been reading this list lately. -Cameron On Thu, Jul 19, 2012 at 11:45 AM, Larry C. Lyons wrote: > He initiated it, and this is where the woes starte

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Jerry Barnes
"He initiated it, and this is where the woes started. " He did? He certainly signed it but it looks like it originated in the house, which is the way it is supposed to work. "The reason they are not is because of a political decision, not a financial, economic or business related decision."

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Larry C. Lyons
He initiated it, and this is where the woes started. If the USPS did not have that extra burden, that no other business has it would be profitable or at least breaking even. The reason they are not is because of a political decision, not a financial, economic or business related decision. On Thu,

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Sam
Not sure if they were saving it from itself or just shut it down http://assets.opencrs.com/rpts/R40983_20091214.pdf . On Thu, Jul 19, 2012 at 10:53 AM, Cameron Childress wrote: > > On Thu, Jul 19, 2012 at 9:40 AM, Larry C. Lyons wrote: > >> Lets also not forget that the post office has to over

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Jerry Barnes
"Thank the republicans and George W. Bush for this." He certainly received some of the thanks. But, let's not forget that this passed by voice a voice vote in the house (unfortunately, who voted which way was not kept) and passed by unanimous consent in the senate (where the GOP did not have a f

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Jerry Barnes
"Saturday delivery should have been axed years ago." I couldn't agree more. I wouldn't mind the federal government opening up mail delivery to some competition either. J - Ninety percent of politicians give the other ten percent a bad reputation. - Henry Kissinger Politicians are people who,

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Cameron Childress
On Thu, Jul 19, 2012 at 9:40 AM, Larry C. Lyons wrote: > Lets also not forget that the post office has to over pay their > retirement funds (not an investment each and every cent) by > congressional mandate. As of last year, there wee about $15 billion in > overpayments, that by law the Post Offi

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Larry C. Lyons
Thank the republicans and George W. Bush for this. In 2006, Bush signed the Postal Accountability Act that requires the agency for 10 years to pre-pay retiree pensions 75 years in advance. As a consequence, the agency has added a whopping $5.5 billion annually to its balance sheet and will continu

Re: Post Office Nears First Default in Its History

2012-07-19 Thread GMoney
Which is ridiculous. On Thu, Jul 19, 2012 at 8:40 AM, Larry C. Lyons wrote: > > Lets also not forget that the post office has to over pay their > retirement funds (not an investment each and every cent) by > congressional mandate. As of last year, there wee about $15 billion in > overpayments, t

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Larry C. Lyons
Lets also not forget that the post office has to over pay their retirement funds (not an investment each and every cent) by congressional mandate. As of last year, there wee about $15 billion in overpayments, that by law the Post Office cannot touch. On Thu, Jul 19, 2012 at 9:33 AM, Cameron Child

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Cameron Childress
I have a hard time finding a reason for delivery more than 3 days a week. On Thu, Jul 19, 2012 at 8:30 AM, GMoney wrote: > > Saturday delivery should have been axed years ago. ~| Order the Adobe Coldfusion Anthology now! http:

Re: Post Office Nears First Default in Its History

2012-07-19 Thread Cameron Childress
When pay phones are no longer in demand, phone companies remove them. When Delivery of mail 6 fracking days a week is obviously no longer in demand, the US Government goes on recess. Fantastic. -Cameron On Wed, Jul 18, 2012 at 9:59 PM, Jerry Barnes wrote: > > Post Office Nears First D

Re: Post Office Nears First Default in Its History

2012-07-19 Thread GMoney
Saturday delivery should have been axed years ago. On Wed, Jul 18, 2012 at 8:59 PM, Jerry Barnes wrote: > > Post Office Nears First Default in Its > History< > http://online.wsj.com/article/SB1872396390444097904577535322022316422.html?mod=WSJ_hppMIDDLENexttoWhatsNewsSecond &

Post Office Nears First Default in Its History

2012-07-18 Thread Jerry Barnes
Post Office Nears First Default in Its History<http://online.wsj.com/article/SB1872396390444097904577535322022316422.html?mod=WSJ_hppMIDDLENexttoWhatsNewsSecond> Before I post a few excerpts, I want to make it clear that the post office is not shutting down. This default is specif