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Most people have the wrong idea. It is actually profitable but back during the Bush years a law was passed requiring USPS to set aside enough money to fund a 7
by tasty_freeze 9y ago
Most people have the wrong idea. It is actually profitable but back during the Bush years a law was passed requiring USPS to set aside enough money to fund a 75 year retirement liability, and gave them 10 years to do it. They "lose" billions each year only because of this requirement to set aside billions for pensions.
https://www.cnbc.com/id/45018432 https://www.cnbc.com/id/45018432
https://www.uspsoig.gov/blog/be-careful-what-you-assume https://www.uspsoig.gov/blog/be-careful-what-you-assume
- throwaway84742 9y agoSo what you’re saying is it’s hemorrhaging money during the unprecedented explosion in package shipping volumes. Remember, that “pension” everyone likes to mention is there because USPS pays its workers peanuts compared to eg UPS.
- loso 9y agoI worked at both for a short time in the early 2000s and I got paid more at USPS than I did at UPS. USPS was more reliable than UPS as far as employment and overall a better place to work. As a matter of fact UPS ranks as one of the worst places I ever worked at. The amount of screaming and yelling between management and workers that goes on there is some of the worse I have ever seen at any work place I've been at.