Labor accounted for 78% of the … Postal Service reported a financial loss Tuesday for the 11th straight year, citing declining mail volume and costs of its pension and health care obligations even as it predicted another strong holiday season of package deliveries. Powered and implemented by FactSet Digital Solutions. In an Aug. 13 interview, Trump admitted that he opposes a coronavirus pandemic relief bill crafted by the House Democrats because it includes funding for the U.S. … Democrats are working to put together a fourth coronavirus spending bill that would give USPS more funding, primarily in order to boost the ability to … This mandate transferred postal revenues to the U.S. Treasury and robbed the Postal Service of $5.6 billion a year over a 10-year period. How is the USPS funded? USPS is owned by the citizens of the United States, not by shareholders or private owners. The Postal Service board requested the $25 billion in funding from Congress earlier this year and Democrats agreed. The House of Representatives on Saturday passed a $25 billion funding infusion to the U.S. The GOP-led Senate has no plans to take up the bill and the White House issued a veto threat on Friday saying USPS doesn't need a $25 billion bailout. Postal Service officials are seeking a $75 billion bailout from taxpayers. We have been ranked among the “50 Best Companies for Minorities” by Fortune magazine. Challenge . It was one of the original functions of Government, mentioned in the Constitution. According to 2016 data, the two postal pension plans are 93% funded with combined assets of $286 billion. The Postal Service participates in a number of events and conferences to reinforce the value of diversity. Donald Trump admitted on Thursday he opposed additional funding for the United States Postal Service (USPS) in order to make it more difficult to deliver mail-in ballots. In fact, the USPS disproportionately hires third-world-origin people and other “marginalized” (i.e. On July 26, 1775, the U.S. postal system is established by the Second Continental Congress, with Benjamin Franklin as its first postmaster general. In comparison to the national public pension plan funded ratio average of 73 percent, USPS’ roughly 87 percent funding level for both systems might look good. I mailed our office rent check and a check for our copier and neither one of them have shown up yet,” Meyer said. Likewise, USPS must be self-sustaining, and not funded by the taxpayers. The Postal Service has lost about $80 billion since 2007 through a decline of mail volume and a congressional requirement that the Postal Service pre-fund retiree health benefits. But the systems were fully funded just a few years back (2013 for FERS and 2011 for CSRS). WHITE HOUSE ISSUES VETO THREAT TO $25B USPS FUNDING BILL. Troy Balderson, Steve Stivers, David Joyce and Mike Turner; Illinois Reps. Michael Bost and Rodney Davis; Rep. Vern Buchanan of Florida, Missouri Reps. Sam Graves and Ann Wagner; Rep. Brian Fitzpatrick of Pennsylvania; Rep. Jaime Herrera Beutler of Washington; Texas Reps. Will Hurd and Michael McCaul; Michigan Rep. Fred Upton, New Jersey Reps. Jeff Van Drew and Chris Smith; New York Reps. John Katko, Peter King, Elise Stefanik and Tom Reed; Rep. Doug LaMalfa of California; Rep. David McKinley of West Virginia; Rep. Pete Stauber of Minnesota and Rep. Don Young of Alaska. Think of all of the landfill we could have avoided. The U.S. “Retiree health care benefits and pensions are two different things. The USPS, by contrast, is charged with delivering to every home and business in America, no matter how remote. The Postal Service is a self-sufficient agency and is not funded by appropriations.Achieving net income — the difference between total revenues and costs — is essential to its continued ability to provide affordable universal service. "We are experiencing a global pandemic and now our U.S. Democrats point to growing concerns from constituents over mail delays coinciding with postal changes on DeJoy's watch. Find information on our most convenient and affordable shipping and mailing services. "They'll be hearing from their constituents because this hits home. Legal Statement. It … It is part of the federal government, but it has been an independent agency since 1971. Quotes displayed in real-time or delayed by at least 15 minutes. No one will say the grim truth about the USPS which is that it is a hiring program for minorities and pays out generous pensions so that it can enrich them, just like Affirmative Action is designed to do. The USPS loses money, but cash flow has been more stable. Prefunding is a prudent measure to protect employee’s earned benefits and taxpayer money. Washington Post’s Michelle Lee weighs in on ‘America’s News HQ.’. The problems at the Postal Service have been under the spotlight especially this year with the pandemic and greater reliance on mail-in services. UPS and FedEx pay the Postal Service to deliver hundreds of millions of their ground packages, and USPS pays UPS and FedEx for air transportation. Postal Service in a bill that also would reverse new … In the 1980s, the postal service was cut off from federal funding… “Eckshually,” he said, donning a fedora over his scraggly facial hair and small beady eyes, “everyone is wrong and the post office is not taxpayer-funded.”. The US postal service (despite quibbles by some) is a “quasi-governmental" organization. Not receiving your mail in a timely fashion hits home. For this reason it created its own financial problems by hiring more people even as demand went down when spammers switched from junk mail to email spam and SMS spam: Perhaps the best indicator of the Postal Service’s structural problems is the divergence between the number of employees it has and the amount of mail it delivers. "To avoid even the appearance of any impact on election mail, I am suspending these initiatives until after the election is concluded," DeJoy said. Republicans and the White House said the $25 billion isn't needed and they took special issue with the language that blocks DeJoy from implementing any reforms at an agency that is losing money. During debate over the $2.3 trillion CARES Act, House Democrats sought $25 billion in subsidies, $11 billion in loan forgiveness, and a $15 billion loan for the Postal Service. 21 percent of employees are African-American; 8 percent are Hispanic; 8 percent are Asian-American/Pacific Islander; and 0.67 percent are American Indian or Alaska Native. Like other industries during the global coronavirus pandemic, the United States Postal Service is facing detrimental financial losses . Postal Service is once again under attack by Republicans who want to bankrupt the Postal Service and allow private equity firms and global corporations to privatize the service, dismantle the agency, and profit further off of the American people. this is retarded. For the USPS, this crash has been ongoing through a drop in mail volume that was made much worse by the transition to spam: The beleaguered U.S. Prefunding is a prudent measure to protect employee’s earned benefits and taxpayer money. Only later, when the mixed-ethnic millennials arrived did the crash begin. "Today the greatest threat to our democracy is the current administration," Lynch said of the Trump White House. A bill introduced in the 116th Congress, the USPS Fairness Act , would repeal the mandate and allow USPS to behave like any other company or agency would. According to 2016 data, the two postal pension plans are 93% funded with combined assets of $286 billion. Welcome to USPS.com. The 26 Republicans who joined with Democrats to approve the $25 billion funding bill were: Nebraska Reps. Don Bacon and Jeff Fortenberry; Ohio Reps. The mail delivery service might have to shutter by June 2020 as a result. This means that the USPS model, which was founded on the nice WASP consumer who actually read advertising mail and considered it, has gone the way of the dinosaur, and the taxpayers are being hit up to fund it. You could make money off of direct mail when you had a huge nation of prosperous consumers. "Vote NO to the Pelosi/ Schumer money wasting HOAX which is taking place now," Trump tweeted. We will not stand for this. Congress created the USPS to replace the old Post Office Department in 1972, making it a permanent fixture of the federal government. House Speaker Nancy Pelosi, D-Calif., urged Senate Majority Leader Mitch McConnell, R-Ky., to respond to constituents' concerns on mail delays and take up the bill. "Public sentiment is everything," Pelosi said. The United States Postal Service is one of our government's oldest and most reliable entities. President Donald Trump said Thursday that he opposes much-needed funding for the United States Postal Service because he doesn't want to see it used for mail-in voting this November. I’m not sure how much the risk-factor may have played in … Finally, Shapiro points out that the USPS pays its workers salaries and benefits far above the rates paid to similar workers in the private sector. The American postal service is on the verge of default. or redistributed. This material may not be published, broadcast, rewritten, Executive Summary . Quotes displayed in real-time or delayed by at least 15 minutes. Unsustainable wage and benefit costs, along with unaffordable and inefficient service requirements in light of reduced demand—not the novel coronavirus of 2019—are the real reasons for the Postal Service’s financial troubles. Postal Service lost money in six out of the 10 years from 2001 through 2010, according to its financial reports. The budget status of the U.S. Most things in the US peaked in the 1990s. Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox. Because diversity affects our return on investment and because it is the “right thing to do,” diversity will continue to be valued and recognized as key to our success in serving every community in America. The United States Postal Service (USPS; also known as the Post Office, U.S. Mail, or Postal Service) is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the United States, including its insular areas and associated states. […], common lie that the USPS is not taxpayer-funded, hiring more people even as demand went down, the USPS exists entirely as a socialist-style diversity subsidy program, USPS disproportionately hires third-world-origin people, made much worse by the transition to spam, Twitter/Facebook Run MASSIVE Campaign to Censor ‘NYPost’ Story Proving Joe Biden Met with Son’s Russian Business Partners, SOTT FOCUS: World Doctors Alliance: Open Letter to UK Government, World Governments and Citizens of the World, Latin American Economies Will See "Record-Breaking Contraction" This Year, The Global Supply Collapse Continues to Get WORSE: Shortages of Clothing, Appliances, Food, and Other Essentials, Etsy Shares Spike 9% To 52 Week Highs After Elon Musk Tweets "I Kinda Love Etsy", Ripple Signed 15 New Customers After SEC Lawsuit, Says Garlinghouse. Market data provided by Factset. ©2021 FOX News Network, LLC. ", "Imagine what the Democrats want to do -- throw live ballots out there to everyone.". Postal Service and reverse recent operational changes. ©2021 FOX News Network, LLC. For one, unlike other government agencies, the USPS is not allowed to receive taxpayer funding, and instead must rely on revenue from stamps and … While USPS is a government agency with federal employees, it doesn’t get taxpayer money and instead depends on commercial activities like selling postage, products and services to … "Then fight the $51 million unasked for Ballots. "To those who still claim there are ‘no delays’ and that these reports are just ‘conspiracy theories,’ I hope this new data causes them to re-think their position and support our urgent legislation today," Maloney said. the usps predates America and its meant to be a public service. Costs were low but quality was still high because of the Baby Boomer and Generation X WASPs still running things. ', Michael Goodwin: I'm ignoring Biden's 'unity' talk, here's why you should, too, DOJ IG investigating whether officials tried to overturn 2020 election, Hawley calls for ethics investigation into Dems who filed complaint against him. Claim: The U.S. economic downturn due to the COVID-19 coronavirus pandemic in early 2020 was forcing the United States Postal Service to close. Like welfare, the Post Office is a subsidy program. Only ABSENTEE BALLOTS are acceptable!". He said the process of removing blue mail boxes and sorting machines started back in 2011 and the Postal Service has "more than enough money in the bank account.". That act manufactured a financial crisis by compelling the Postal Service to pre-fund all retiree health care costs, 75 years into the future—for workers not even born yet. meanwhile prisons and the police are too profitable and only getting more and more profitable. It is the government operated mail delivery system. Mutual Fund and ETF data provided by Refinitiv Lipper. Twitter and Facebook launched a massive censorship campaign on Wednesday to squash the New York Post story proving that Joe Biden met with son Hunter’s crooked Russian and Ukrainian business partners. USPS is losing billions and has done all it can without external help. The House is set for a rare Saturday session to pass legislation to halt changes in the Postal Service and provide $25 billion in emergency funds. Legal Statement. How does USPS funding affect the 2020 election? The Delivering for America Act would infuse the post office with $25 billion, reverse the service changes that DeJoy enacted this year and prevent the Postal Service from taking any measures that could slow down the mail until after the coronavirus pandemic or Jan. 31, 2021 -- whichever is later. Revenue. "Seems insane, but all too typical for the Trump-hating Democrats," Lesko said. Democrats have pushed for $25 billion in USPS funding, an amount Speaker Nancy Pelosi (D-Calif.) said Thursday was recommended by the agency's board of … The U.S. The budget status of the U.S. For example, FedEx is 84% funded while UPS is about 76%, Interesting to note that UPS suffered a 14% drop from the 2013 level. Retiree Health Benefits Prefunding. All rights reserved. They said her race should serve as a warning of the dangers of universal mail-in voting for the November election. The House passed a bill Saturday to put $25 billion in emergency funding into the U.S. this is as silly as complaining about how firefighters need to turn better profits. In July, the U.S. Department of the Treasury and the Postal Service reached a deal on a loan of up to $10 billion. In their view, unless the taxpayers make yearly payments, the USPS does not receive taxpayer funds. New York Magazine national correspondent Gabriel Debenedetti joins "CBS This Morning: Saturday" to discuss the politics of the week, including the presumptive democratic presidential ticket of Joe Biden and Kamala Harris and President Trump's criticisms of mail-in voting. In this image from video, U.S. Postmaster General Louis DeJoy testifies during a video virtual hearing before the Senate Governmental Affairs Committee on the U.S. Rep. Stephen Lynch, D-Mass., said American democracy is more endangered now than during the Sept. 11 terrorist attacks because the country is more divided and the threat is coming from within. Management at the United States Postal Service ... that provoked a powerful national strike by postal workers. Now in Myth-and-Fact format, an explainer on why pension funding requirements don't have anything to do with the USPS's current woes. Trump tweeted Saturday his opposition to funding for the Postal Service and linked it to his objections to universal mail-in voting. Trump Opposes USPS Funding But Says He'd Sign Bill Including It President Trump on Thursday evening reiterates his interest in denying the U.S. Postal Service has been a matter of both contention and confusion since the 1970 Postal Reorganization Act (PRA) put the Postal Service on a self-sustaining basis, exempting it from general budget and funding laws … Congress can and does pass laws on its operation. DeJoy rejected that any political motives were at play, but told a Senate panel on Friday there has been a slowdown. The bill would prohibit any limits on overtime pay, hiring freezes, delaying mail service and treating election mail as anything less than first-class mail. The United States Postal Service (USPS; also known as the Post Office, U.S. Mail, or Postal Service) is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the United States, including its insular areas and associated states.It is one of the few government agencies explicitly authorized by the United States Constitution. Together, they have waged a campaign to disrupt the timeliness of mail delivery and erode public confidence in the Postal Service that -- if successful -- would be "the largest voter suppression in American history since Jim Crow," Connolly said. The company, nonetheless, isn’t funded by tax {dollars} — it as an alternative “depends on the sale of postage, merchandise and companies to fund its operations,” in response to its web site. Democrats called the rare "emergency" session in the middle of the summer recess because they contend President Trump and new Postmaster General Louis DeJoy are trying to sabotage the 2020 election by delaying service that could compromise mail-in ballots during the coronavirus pandemic. Even more, the quality of USPS service continues its downward stroke as the usual third world corruption kicked in as WASP workers got replaced with neo-whites and ethnics: Janet Meyer says in the past few months she’s had several pieces of mail disappear after dropping them off at the mailbox outside the post office in the 2800 block of Timmons Lane. This material may not be published, broadcast, rewritten, or redistributed. The Postal Service is a self-sufficient agency and is not funded by appropriations.Achieving net income — the difference between total revenues and costs — is essential to its continued ability to provide affordable universal service. The 2017 loss came after a double-digit increase in package delivery was unable to offset drop-offs in letter mail, which makes up more than 70 percent of total postal revenue. it wouldn’t even be bad if it was tax payer funded entirely. This is not a conspiracy theory. This is fascism. How is the USPS funded? 4 Affordability. The legislation is not expected to go anywhere. You've successfully subscribed to this newsletter! Franklin And, they can only charge what Congress allows; increases require approval. "If anyone should know, it should be the chairwoman of this committee who had to wait six weeks after the Election Day to get the results of her election," said Rep. Jim Jordan, R-Ohio, who dismissed the House legislation as a political "charade. Groupthink gives them power as individuals because that way people cannot force them to obey the obvious reality and they can do whatever they want, Garden of Eden style. Both social media giants locked the accounts of members of the media, members of the Trump administration, and others when they tried to share […], We are an independent non-profit alliance of doctors, nurses, healthcare professionals and staff around the world who have united in the wake of the Covid-19 response chapter to share experiences with a view to ending all lockdowns and related damaging measures and to re-establish universal health determinance of psychological and physical wellbeing for all humanity. Right now, the groupthinkers are raving on about the USPS, and they like to repeat the common lie that the USPS is not taxpayer-funded: Still, that persistent myth—that the Postal Service is a burden to taxpayers—is precisely the false narrative that led Congress to pass the 2006 Postal Accountability and Enhancement Act. Rep. Gerald Connolly, D-Va., said DeJoy is "a crony and major donor of the president." All rights reserved. Postal Service (USPS) recently closed its books for the 2019 fiscal year, and things aren’t looking so good as it heads into 2020.USPS has a whopping $120 billion in pension and other post-employment unfunded liabilities.That’s an amount equal to the GDP of Ukraine. The AFL-CIO liars have deliberately confused two things: (1) having a regular budget from taxpayers and (2) being taxpayer-funded. As the New York Times is reporting, “at the direction of a Trump campaign megadonor who was recently named the postmaster general, the service has stopped paying mail carriers and clerks the overtime necessary to ensure that deliveries can be … For years, the USPS was the only federal agency required to pre-fund future retiree health benefits. The reality is that the Postal … For example, FedEx is 84% funded while UPS is about 76%, Interesting to note that UPS suffered a 14% drop from the 2013 level. It accrued $120 billion in pension and other post-employment unfunded liabilities as a result. The United States Postal Service (USPS) is big. The mail delivery service might have to shutter by June 2020 as a result. Now, it serves as another sinecure for second-world (Italian, Irish, Slavic) and third world (African, Asian, Hispanic) people who are stealing from the mail just as they did in their home countries. SOLUTION. No other company or agency faces, or could be expected to survive, such an onerous financial burden. Under mounting pressure, a noisy protest at his Washington home and alarm over the removal of blue collection boxes in communities, DeJoy on Tuesday announced he was putting a pause on any service changes until after the election. Use our quick tools to find locations, calculate prices, look up a … (US Senate Committee on Homeland Security & Governmental Affairs via AP). You could be forgiven for thinking that the USPS exists entirely as a socialist-style diversity subsidy program based on its diversity propaganda: Our commitment to diversity is unwavering. Republicans took a couple of shots at Maloney during the debate, pointing to her primary race in New York City, which took weeks to call as election officials struggled to count mail-in votes. The United States Postal Service, currently being hit hard as letter-mail volume plummets during the COVID-19 pandemic, is in need of rapid emergency funding. Postal Service (USPS). Significant financial losses result from a legislative requirement that the Postal Service pre-fund its retiree health benefits.. Today we have the flip side of that myth- the belief that the US Postal Service isn’t part of the federal government. ", HOUSE DEMOCRATS PUSH FORWARD WITH $25B POST OFFICE BILL, GOP DISMISSES RARE SATURDAY VOTE AS A 'JOKE'. But the story's more complex than that. The White House is pushing for a congressional compromise on U.S. not necessary for majority survival) groups: The Postal Service is one of the leading employers of minorities and women, with minorities comprising 39 percent and women comprising 40 percent of the workforce. That got replaced with an even bigger nation of mostly third-world people who are oblivious to most advertising and have no money anyway. countless people rely on usps on a daily basis. Positive, significant correlations exist between diversity, employee satisfaction, and customer satisfaction. House Speaker Nancy Pelosi, D-Calif., speaks during a news conference on Capitol Hill in Washington, Aug. 22. Rep. Jody Hice, R-Ga., shot back that Democrats are doing the damage to America. Before 1971, it was a department of government, supported by taxes. For 55 cents, anyone can send a letter, regardless of geographic location, to anywhere in the United States. As of 2019, USPS has funded 87.2 percent of CSRS and 86.9 percent of FERS liabilities. In other words, we were paying for our minority employment program with the environmental holocaust of massive amounts of junk mail, almost half of which went directly into the trash can immediately. They want to believe in the group because it is an alternative to reality. Earlier this week we dealt with the popular belief that because the US Constitution mentions post offices, it would take a constitutional amendment to eliminate or privatize the USPS. The United States Postal Service has been recognized for its commitment to creating an inclusive work environment. These events make customers, suppliers, and employees aware of the deep roots of the Postal Service in every American community. “We all feel bad about the dip in our service," DeJoy said, adding that they were working to fix the problems. The Post Office rose to new heights — like most things — in the 1990s with the rise of junk mail as a newly-liberalized America embraced unrestricted egalitarian commerce: The Postal Service lost $1.1 billion in its latest quarter. That number would be even larger if it weren’t for direct mailings, which now constitute 52 percent of mail volume, up from 38 percent in 1990. But the USPS is the only one required to pre-fund retiree health care benefits. The $2 trillion coronavirus stimulus package signed into law provides no funding for the U.S. “The USPS and the mailing industry it supports ($1.6 trillion in sales and 7.3 million private sector workers) is every bit as important as the aviation industry,” National Association of Letter Carriers President Frederic Rolando said in a late March statement. The pandemic and greater reliance on mail-in services cut off from federal funding… are! Format, an explainer on why pension funding requirements do n't have to... 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