Hacker News new | ask | show | jobs
by 7bees 25 days ago
I'm not aware of any organization that has the same requirements to fund its future pension obligations that the USPS has. That requirement was created by Congress as part of a sustained campaign to damage the USPS.

It seems like your argument is actually that Congress should rescind that requirement, so that USPS can afford to better service urban customers while continuing to be a critical lifeline to rural areas.

2 comments

USPS is also not paying for the pensions that they already incurred, and those are actually even larger ($20bn/yr).

Anyway, Congress did already rescind the requirement that USPS prefund the pensions (a 57bn debt forgiveness), but this is all just hiding the ball, the 9bn in pension liabilities being incurred now are real. Even if you don't prefund them now, an honest accounting says that these are part of your costs today.

A privatized USPS would likely get rid of pensions entirely.

Well, if postal services were provided by normal private companies, then there would be none (or less) of that kind of political interference you are complaining about here.