Issa on $2 Billion Postal Service Loss: Bailout Not the Answer

The House Oversight and Government Reform Committee, led by Chairman Issa, speaks with Rep. Cummings at Capitol Hill in WashingtonHouse Oversight and Government Reform Committee Chairman Darrell Issa, R-Calif., today released the following statement on news that the U.S. Postal Service posted a $2.1 Billion loss in the most recent quarter:

“The Postal Service’s latest reported loss illustrates the urgent need for postal reform to prevent a taxpayer funded bailout of the Postal Service,” said Chairman Issa.  “Unfortunately, some in Congress still have not come around to the need to allow the struggling institution to right size itself.  In fact, just last week, 22 Senators asked for a renewed moratorium on mail processing facility consolidations, consolidations that would enable the Postal Service to save hundreds of millions of dollars each year.  In the House, Oversight Committee Democrats even refuse to support the President’s own postal reform plan.  Additionally, next month the Postal Service will default on a $5.7 billion payment to the U.S. Treasury to fund retiree health care costs.  This will be the fourth straight year in which the Postal Service has defaulted; together these defaults will cost taxpayers $22.4 billion.”

On July 24th 2013, Chairman Issa’s Postal Reform Act passed through Committee.

43 thoughts on “Issa on $2 Billion Postal Service Loss: Bailout Not the Answer

  1. BS…TSP…records prove it. Google it. Do something other than search for porn and blame management for everything in your life.

  2. “these defaults will cost taxpayers $22.4 billion.” This is utter BS. This default will not cost the taxpayers one dime. The Congress just won’t get their slush fund that’s all that will happen. If taxpayers get hit it will be on the Congress not the USPS.

  3. So the tax payer can’t bail out the Postal Service with 22.4 billion, because of the prefunding? what crap! The prefunding law is from fantasy land, made up to destroy the Postal Service! Question, how much does the tax payer owe to pay for your health care? I would just hate for the tax payer to be stuck bailing out your health care costs!

  4. Wake up people. The fre-pund payment goes to the General fund for the President to use which evere way he wants. Look into it. There really is no account with money in it, on paper there is an account with money but not really….5 day is the best way to save money, do you people want jobs for others or to keep your job safe. I want my job saffe…You are not going to get both, financially it won’t happen. 5 day delivery will help. wake up there is no mail volume…

  5. Management WILL save money, no matter how much it costs.

    2 BILLION in the red, despite revenue increasing?

    Just in time to thwart upcoming negotiations on a new contract. Timing is perfect!

    Get rid of those who don’t know how to run a company. That should reduce management by 99%!

  6. Issa once again making up lies. The money is to make sure retirements are funded for the next 75 years. Congress only has to allow the payments to be reamortized for a longer period of time instead of over 10 years. A simple solution, but Issa is trying to break the unions instead of save the service.

  7. and the game continues…… this is funny. sad thing: NO ONE knows the actual condition of the PO…. we can believe the PO or we can believe the Unions- neither side tells the truth nor ever will. Until my paycheck bounces or I show up for work one day and the doors are chained, I will continue to believe that things aren’t that bad. Besides- the PO seems to give away OT likes its candy anyway

  8. Issa is bought and paid for by those who want to take over/privatize the USPS for their own benefit and I’m sure he longs for those days back in the 90s when APWU & NALC were feeding his re-election coffers. Say it ain’t so TSP…please, say it ain’t so!

  9. Dear Mr. Issa, you are one of the biggest morons. I have followed your hatred for the United States Postal Service for the last couple years and I am angered by your blatant neglect of the actual facts. Fact: the Postal Service is making a profit if you and the other boneheads remove the 5.5 billion dollar anchor put on them in 2006 by the Congress. Fact 2: The Postal Service is still the most liked Gov’t agency which makes you jealous I’m sure since your in the worst trusted and liked part of Gov’t. Fact 3: you and your fellow Congressman should be held accountable for your horrible decisions you make. I don’t know how the hell uyou ever got elected. Must have been a drop of the pencil. Fact 4: you are an …!!

  10. Interesting how these same clowns were so quick to bailout the Wall St. crooks. Rewarded for breaking numerous laws.

    Again.

    Of course, when their own investments, etc. in Wall St. are involved, I guess they have no problem using tax dollars for their own interests then.

    Typical crooked congress.

  11. Most of the post today are good to read! Wow Mr. Issa, U R A FKED UP dude!

    we need sat delivery u d b

  12. Congress has no balls, so the USPS will continue to not make the pre-fund payment and people will moan and groan and say “the sky is falling”. It will go on for years, until one side gets an advantage in the House and Senate. Then the real fireworks will start.

  13. Issa spews another obviously bogus statement designed to spin a misleading story that we will cost the taxpayers money. Short-sighted politicians crafted the 2006 legislation, another part of the ruse. Continue the drum beat of the sky is falling so as to create a falsified need to change things, in Issa’s opinion by “right-sizing” which is code for Union busting. It’s no secret though, and for you on the right who love this guy so much, look at his history of bugging the NALC for backing when he first ran for public office. Looks like this typical dead-head career politician should be thanking the Union every day for helping him get his job. One wonders if he will ever request to become an “honorary” member of the NALC as a small way of saying thank you for being enabled to suck on the government teat for the rest of his life by Union support? Good news is those of us in the know realize the USPS is now more productive than ever and will continue to grow. (and we will keep spreading the word by doing our jobs in an above and beyond fashion every day, as opposed to those in the ranks of the congress such as Issa who have chosen to argue, never work to accomplish anything and politicize everything and yes, collecting a paycheck for such ludicrous lack of productive activity. Shame on them all!) Just gotta get those taxpayer draino’s to sign on to the appropriate legislation to unchain this wonderful institution from that 2006 failure and enable growing this company as never before and let us go about being the productive service for the American people that the Founding Fathers intended. Pretty amazing that a little cog in the wheel can answer all these problems in one tiny block of the blogosphere…Call this the “Copy cut and paste this and sign it into law act now act of 2014″…K.I.S.S. Keep It Simple & Smart! TA POW!!!

  14. so the lie continues, issa never carried mail in his life, does not know a dam thing about the post office, just that he wants to divide it up a feed it to his friends, frack you issa.

  15. The PO keeps losing its revenue but the PO mgmt keep getting their BONUS.
    That’s why Issa gets jealous.

  16. Issa doesn’t want the USPS to recover, which makes his statement hypocritical to say the least. But we can rest easy knowing that the figures were probably cooked before being announced, meaning nobody has any real idea of what the true financial situation in the Postal Service really is. I won’t point out which post, but there are some definite grammatical atrocities going on in these replies. That doesn’t help bolster your position when you can’t spell or punctuate. Of course, thanks to the internet and smart phones nobody knows how to spell out words any more.

  17. Issa, the USPS is a Govt Bailout. It help fund the war in Iraq, and you tried to use it to fund the Highway Spending bill.
    I got an idea you so called American, pay your freaking taxes instead of trying to make the working poor pay your share.
    I hope Dave Peiser wins the district.

  18. Dear Congressman Issa, The only reason the Postal Service ”lost 2.1 billion” is because of cave men like you and ex president Forrest Gump! The prefunding of health care costs is an artificial, invented, unnecessary, imaginary, cost designed to place the Postal Service in a deep hole! You should make every private co. and every government agency prefund their health care costs! You don’t care about what is right or wrong, fair or unfair, only what you care about what you can get away with!

  19. USPS upper management always has a plan or an excuse, if we could do this or if we could be allowed to do this we will make a profit. No Saturday delivery, reduction of employees, reduction in hours at local PO’s, I could name numerous programs it all turns out the same. USPS announces we had a loss of billions this quarter or for the year, they plan to fail especially at contract time. This trend will continue until the American people stand up and hold them accountable for their actions, the Post Office belongs to tax payers of the USA. Their reply to this statement will be, we take no money, operate just on the sale of our services. Congress nor the Post Master General owns the Post Office, it does need reform but no one is looking in the right direction, too many agency is involved in the operation. It will be this way until the people realize what is going on, their plan is to privatize, some organization will walk away with our Post Office. Then the price for their services will be much larger. I am sure some of the Congress and upper management will be apart of that organization.

  20. Now Issa has been reduced to “fear-mongering” by bold faced lies saying the TAXPAYERS are on the hook for the ridiculous prefunding requirements. IF it were not for the prefunding, The USPS WOULD BE MAKING MONEY…DUH! The only cuts needed are to the bureaucrats in the Service (Ex: all the VP’s) They still continue to cut window clerks, carriers, service hours and mailboxes…DUH!…less Service = less revenue…DUH!

  21. Issa is bought and paid for by those who want to take over/privatize the USPS for their own benefit.

  22. The defaults mentioned in the article is done out
    of neccesity to continue operations. It is also as
    we all know the main reason the postal service is
    in this situation to begin with. Regardless of first
    class mail erosion to edoc the aforementioned 22.4 bill
    is tallied into the equation of the dismal financial
    number crunching. Until there is enough support to
    alleviate these payments the struggles will continue.
    Democrats are against closures with repubs all for it.
    The end result being it’s a “tug of war” with no winner.
    With no end to this in sight it would be ingenious to
    signan emergency bill or evn a temporary bill that would
    allow the postal service the footing it needs to pull
    itself from debt. The 5.7 billion a year was a Bush mandate
    that was unnecessary and still remains the only government
    agency to do so. Wipe the slate clean ending that rediculous
    albatross holding back the services strides to be solvent.
    This would slow the PMG from having to contrive alternative
    approaches that have negative connotations for so many in
    the closing of postal facilities and job losses. It is my
    gut feeling though that tells me congress will never remove
    the ball chain George Bush strapped them with in 2006. The reason being is found below.

    Highlights of the “Postal Accountability and Enhancement Act of 2006″ include:

    Repeals a provision of Public Law 108-18 that required money owed to the Postal Service due to an overpayment into the Civil Service Retirement System Fund to be held in an escrow account, which would essentially “free up” $78 billion over a period of 60 years. These savings would be used not only to pay off debt to the U.S. Treasury but also to fund health care liabilities, and mitigate rate increases

  23. Issa is worried about giving the post office a bailout? I find that statement ludacris. It was alright to bail out big corporations like GM and big banks or rather rich guy’s companies but not alright to bail out a needed service for many americans and a source of good paying middle class jobs. I find Mr. Issa’s comment to be laughable. He’s a fraud and a republican hack. His main concern is not for the average american, it’s for his rich republican friends.

  24. Issa your still here you moron. Can’t wait until january when your no longer calling the shots. Your only in office because you moved to a republican majority neighborhood in california after you knew you couldn’t win unless it was one. You are a rich sold out to big business piece of art and as jimmy stewart who starred in movie mr. smith goes to washington would of been your thorn in your side and senator paul wellstone who the republicans murdered because he was the new mr. smith in washington.

  25. As a Republican I am appalled at your bald face lies congressman. The taxpayers on not on the hook for anything, as it now stands the Post Office is prepaid for retiree’s healthcare more then all but 4 corporations.
    You have a long standing hatred for the USPS than is borderline neurosis. The legislation that you propose is nothing short of an attempt to privatize the the Post Office.

  26. WHY IS THE DEFAULT GOING TO COST TAXPAYERS? HERE WE GO AGAIN THEY WILL TURN ANY PROFIT AROUND TO MAKE THINGS LOOK BAD TO GET THEIR WAY. THEIR WAY IS TO PRIVATIZE THE POST OFFICE TO LINE THEIR POCKETS WITH MONEY. WHEN ARE THEY GOING TO GET THOSE PEOPLE OUT OF OFFICE? ENOUGH IS A ENOUGH!

  27. It would be one thing if the 5.7 billion the USPS is suppose to pay for all future retires was actually placed into an account for the purpose cited, but to insist the USPS pay this money that merely goes into the federal govt general fund to help offset deficits is ridiculous! Issa should gets real no and leave governing to others.

  28. Why do we keep seeing that it is going to cost taxpayers for our defaults on the future health care benifits?

  29. To: Chairman Issa, You are one of the main reasons for the Postal Service being in trouble! If you and the rest of congress and the senate would remove the 5.7 million dollar prefunding health care and retirement bill that you and the Republicans put there to destroy the postal service. just so your rich corporate’s friends like the Koch brothers can be richer! And take away the service for the average citizen of universal service. You don’t care about them or the U.S.P.S. you just want your kick backs from the Koch brothers. Prove me wrong and remove the prefunding of the 5.7 billon bill that you passed. And then lets really see how bad the U.S.P.S. is …. I’m sure it will surprise you ! That’s why you won’t even bring that up in all of your statements to the public. All you want is cut,cut,cut and more cuts. Until there is no service, then you will be happy and the average citizen losses and will never get that back! I don’t trust a word you say when you talk about the U.S.P.S.

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