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by triceratops
602 days ago
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Interesting. It's clearly complicated. The tl;dr appears to be that Congress loves meddling in USPS affairs but requires it to pay its own way, and uses it as a political punching bag when it falls short. From the article you posted: "While state government workers and teachers have their pension and retiree health funds invested in a mix of stocks, bonds, and other quality assets, USPS, by law, can invest only in government bonds. USPS had $298 billion in such assets at the end of fiscal year 2022. Its inspector general estimated it could have had up to $1.2 trillion if it had diversified its investments as states do for government workers." So USPS is $900b short because of laws Congress passed, and now needs $100b in taxpayer assistance. |
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