Chairman Carper, Ranking Member Coburn Statements on USPS Default on Payment for Future Retirees
WASHINGTON – Today, Homeland Security and Governmental Affairs Committee Chairman Tom Carper (D-Del.) and Ranking Member Tom Coburn (R-Okla.) released the following statements regarding the Postal Service’s default on its payment to the U.S. Treasury to fund its future retiree health care obligations:
Chairman Carper: “Unfortunately, today the Postal Service will yet again default on its obligations to the U.S. Treasury. Sadly, this is not the first time the Postal Service has defaulted, nor will it be the last if Congress is unable to come together to pass comprehensive reform legislation. Today’s default is another stark reminder of the Postal Service’s dire financial situation. We have sat around for too long, watching as the financial challenges facing the Postal Service grow more difficult and the potential solutions become more expensive. It has been clear to me and to others for some time that we must act to save this $1 trillion mailing industry and the over eight million jobs that depend on it. In August, Dr. Coburn and I came together to introduce bipartisan legislation that will make the necessary changes to ensure the Postal Service is competitive in an era of digital communication, and this month we held two hearings that examined our legislation and allowed stakeholders to weigh in on the bill and what the Postal Service needs to survive and thrive in the 21st century. I hope to move our bipartisan legislation swiftly through our committee and onto the Senate floor for a vote as soon as possible.”
Dr. Coburn: “Unfortunately, the Postal Service announced today that it will default on yet another retiree health benefit pre-funding payment, bringing its total defaulted payments to $16.6 billion,” said Dr. Coburn. “These payments are designed to protect the future benefits promised to postal workers, and short-changing this fund only jeopardizes their future. It is clear the time to reform the Postal Service has come. I am hopeful my colleagues will put the long-term best interest of the Postal Service ahead of parochial interests and will thoughtfully consider our bipartisan bill so that the Postal Service can thrive in the future.”
I have been away for awhile at these sites.Nothing has or will change. I was a carrier for 24 years , now a mail handler for last 5 and a half. Mail handler bin beri beri good to me. Carrier work is too difficult today with loser PM’s harassing and GPS. The CCA’s will not make it. But PO will plod along because there will be an influx of new low wage people working with no bennnies.Eventually private mailers will figure out a way to get mail straight to carrier without the P&DC’s shredding it first. Then it will be Pitney Bowes and Letter Carrier INC.
Does anyone want some sandwiches ?
Ya, you will probably get an early out like the EAS was offered-go, but with no money! It is a shame that a federal agency treats it’s managers and employees like that. They act like the problems that the postal service is facing is because of it’s employees. Wrong! It the natural path things take when technology advances, etc…Internet!
Again Porchchop is correct. Our useless Congress will do nothing at all.
THEY WILL NEVER GET AROUND TO VOTING ON THIS BILL.
Scott, if you have never worked other crafts. You might want to keep your opinions to yourself. You make yourself sound as ignorant as Darrel Issa
Well then, if things are that bad,
I better ask you guy’s, do you want me to make some sandwiches ?
It amazes me that the distinguished Senators cannot understand the future of health benefits for both current employees and retirees. Obamacare is now the law of the land, and we are headed for a single payer system in another 15 to 20 years. So the prefunding for retirees who havent even started working for the Postal Service yet is just another red herring. These Senators are aware that the Postal Service is also planning to provide a health insurance program solely for its own employees and retirees. The details in this program for retirees are that we would be required to sign up for Medicare Parts A and B, and the Postal service insurance would become merely a supplement. The costs to the Postal Service for current retirees and those not even born yet will only go DOWN in coming years!! Wake up Senators Coburn and Carper!!! It’s not that hard to see into the future.
I’m with you Frank, it looks hopeless though. Is seems the carrier craft is irreplaceable. All of the CCA’S in our office either quit the first week or get fired by the end of probation.
Give the carriers an early out now!
Parcel volume go up, thousands of workers retired, postage rates go up, where is the money?
What needs to be clarified is that the strength of the future retiree benefits is not or never has been in jeopardy. Carper and Coburn need to take the blinders off. Let’s see some hard facts on exactly what their claiming. So far all we hear is opinions. There have been stories written that future retiree benefits are well protected for years to come. The 5.6 Billion dollar payment is the elephant in the room which we can all see, why can’t these two! It doesn’t take a rocket scientist to realize if you get rid of this rediculous payment the postal sevice will be put back on path for economic growth. That combined with loosening restraints by letting them compete on a level playing feel with competitors. Some of these senators just can’t see the forest through the tree’s, or is it that they view this payment as another cash dipping station to borrow from and don’t want to see it dry up. You ask yourself these questions because the high majority consensus to this has been discussed many times already but keeps falling on deaf ears.