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We did. USPS doesn't receive any public funds, but it's still technically owned by the United States government. It also has near-crushing prepaid pension deb

• benawabe896 15y ago
  ~100 million is not a lot compared to other government program, but it is still public funds. (Postal Service Fund)
• anamax 15y ago
  > It also has near-crushing prepaid pension debt. Prepaid is the only way to do pensions. If you don't pay pension obligations as you incur them, you're going to run into trouble if there's any biz contraction. And, if it's a long-lived organization, you don't actually reduce your cash-outflow by not paying when you incur. Run a scenario where you under pay by X%. When folks start collecting, you have to come up with the difference out of then-current revenues. Steady-state with stable revenues, you end up paying exactly the same amount, but you've got debt. Now cut the revenue (and current expenses) by 25% because the world changed. Your revenue can't pay the debt.
  • rhino42 15y ago
    That's funny, sounds familiar. How do we finance social security again?