Letters to Editor
From Issue: Volume XXI - Number 5
Mr. Ramsey facts about the post office operations are not totally honest. He wants to paint a picture of an operation that is a money loser, mismanaged and the reason is the unions.
As an example he states “Fact, the USPS lost $15.9 billion last year, most of that due to the health and retirement benefits the USPS is committed to maintaining.” What it doesn’t mention is that in 2006 the Postal Accountability and Enhancement Act, requires the post office to make payments “into federal accounts” to fund 75 years worth of health benefits for future Postal Service retirees.
The law requires that the Postal Service pay about $5 billion a year toward future health benefits for 10 years, until 2017. A 2009 report from the nonpartisan Congressional Research Service determined that the payments were having a “considerable” impact on the post office’s profitability.
Mr. Ramsey wants to compare the post office to other businesses, but what other business must pay for 75 years of retiree health care in advance? It’s a shame you do not disclose all the facts.
Mark C. Veturis