Issa Says USPS Needs Reform To Protect Taxpayers From Expensive Bailout

Issa Statement on Postal Service Decision to Stop Making Retirement Contributions

Today, in response to the United States Postal Service (USPS) announcement that they will stop making employer’s contributions for the defined benefit portion of the Federal Employees Retirement System (FERS) for their employees, House Committee on Oversight and Government Reform Chairman Darrell Issa, R-Calif. issued the following statement:

“The United States Postal Service, our nation’s second largest employer, is now past the brink of insolvency. This would not be tolerated in a private company. Incredibly, the unprecedented action to suspend these payments will only offer USPS an additional $800 million through the end of the year in liquidity, not even 10 percent of their projected deficit of $8.3 billion. USPS needs fundamental structural and financial reforms to cut costs and protect taxpayers from an expensive bailout.”

12 thoughts on “Issa Says USPS Needs Reform To Protect Taxpayers From Expensive Bailout

  1. The tax payer’s pay 100,000.00 per USPS employee!!!!!! My friend you are wrong the USPS receives no tax payer dollars! Issa is an i Just remdiot. The USPS has tried to get congress to stop the prefunding for 3 years and all they do is sit on there thumbs and do nothing about the problem. Just remember numbers don’t lie, but lier’s usse numbers and that is what they are doing!!!!!!!

  2. Another government agency flunking the test of efficiency and functionality….ridiculous but totally not surprising! Every gov’t agency every created runs itself right into a wall and costs billions more than an efficient, well run private company. It costs the taxpayer 100K per USPS employee! What the f… are we paying delivery people, line workers, and cashiers that much money a year for!? Private unions are the ones raping taxpayers, NOT people like ISSA who are living by the rules of capitalism and profiting the only FAIR way! Get rid of the USPS and let Fedex and USPS take over as well as many other mail and delivery companies who would happily rise to the task and do the job for 1/10 of the cost and NO more taxpayer money would be taken!

  3. Congress should stop Sat. delivery. This woulld save on the 50 million dollar year wasted fuel cost and reduce labor cost. Have an early out to reduce employees and not contribute to unemployment numbers,

  4. Make those who are out on disability or light duty who are eligible to retired go ahead & do so. It has become a game with federal employees to see how much you can get paid without actually working.

  5. Simply said: The Postal service was NEVER intended to make a PROFIT……….I’m sick and tired of hearing the shit about what the “PRIVATE BUSINESS” says & does(Isn’t the main reason the economy tanked was the GREED of the private business…THE USPS is a service for the people,by the people…..if not for the ridiculous 10 year payment plan (75 Billions?) mandated by CONGRESS, the Postal Service would be profitable…I repeat…. PROFITABLE!!!

  6. What balance sheet, financial reports and quarterly statements has this character “LEE” been reading??
    Did “LEE” vote for Darrell Issa??

    It would seem that an individual would at least READ A LITTLE BIT about the revenue generation and balance sheet of the USPS before they start writing about THEIR VERSION of what ails the Postal Service.

    The other ideas that “LEE” has come up with are not relevant and are a bit too novel for the real world.

  7. Wow, It’s really cool of Mr. Issa to take down 7 million jobs. You have the gall to talk down to the postal service about what would be tolerated in the private sector? The way you guys run congress you would have been fired long ago for incompetence. Who is the one 14 trillion in debt with the taxpayers, as usual, bailing your butts out? The USPS is simply asking for the money they overpaid. When you say taxpayer bailout you, my friend, are a bold faced liar!!

  8. “Lee” don’t pop off until you got all the facts! “The mandate requires the USPS to pre-fund most of the retiree health benefits payable over the next 75 years within a decade – something no other public agency or private firm does. The resulting annual payments run $5.5 billion a year. Without that unique burden, the Postal Service would have been profitable over the past four and a half years. Even with the worst recession in 80 years, even with Internet diversion, the USPS has taken in more money from its postal operations than it has spent”. Let’s be fair about the facts!!

  9. Just give the Postal services money back to it,period! End of problem! I think Issa and his boys misperceive reality!

  10. Why the continuous information as to USPS billions of dollars deficit with no recovery possible in the present operations mode. The demand for Postal products and service has declined to the point revenue generation to meet cost cannot be met. The fact that Oct. 1 the USPS has to pay 5.1 billion dollars health cost retirement is only 1 factor; the USPS would still be billions in the RED as present financial deficit reveals. The present products and service demands have declined as the results of technological advances in communications such INTERNET, TEXTING CELL PHONES, SMART PHONES, TABLETS AND NEW APPS being made available. The INTERNET connects individuals and business. The mode is to go paperless as social security and treasury checked have mandated that by March 2013 all checks must be routed per direct deposit. The mail no longer connects people via USPS delivering to a mailbox which requires purchasing a postage stamp and a 1-2 delivery time. This will increase with time as children are schooled in computer science via video games. Facebook the leader in social media networking eliminates mailing as it offers multiple communication process to user and friends. The decline in First class mail volume has decline and will continue to do so resulting in loss of revenue. The continuing loss of revenue demands that the USPS discontinue its parasite operation mode and operate in cost effective. Office that are no longer essential as they were set up to serve a rural community 50 years ago and demographics has changed the area to suburban within 5-6 miles of another office should be closed. 6 day street delivery is a wasted cost as the primary product delivered is bulk business mail; magazine delivery via mail is history. Parcels delivered on Sat. have no expedited time frame; if so would be Express or priority. Medco and other prescription mailers allow a 5 day delivery frame, Sat. street address delivery is a total wasted cost as American mail customers are not dependent on mail products to maintain life style.
    Eliminating Sat, delivery would idle 192,000 postal vehicles and delivery personnel.
    Higher headquarter.area and district STAPH PFP should be discontinued as they are paid to do a job and not chase or create numbers for a job they are paid a salary to operate cost effective and meet predetermined goals..

  11. Well Issa…if you and Congress were REALLY that interested in “saving the taxpayers from a bailout”….get busy and suspend or terminate the “prefunding of retiree benefits” until…if/when?….the economy picks up and the Postal Service can actually afford it……..if you do not there MUST be another reason, or 20, for your lame actions….

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