Originally posted by Flatbar
The USPS uses some voodoo accounting that keeps up the appearance of solvency. They have a $15 Billion credit line where some $11 Billion is tied up as of 2003. The lack of accountability for this debt is just SOP, but it will become an issue soon.
http://www.atr.org/content/pdf/pre2004/postal051603.pdf
All of their recently added services are geared to reduce that debt since it is against the law for the USPS to be a profitable government entity.
So, if you think that the USPS doesn't dip into the tax base then I have a nice plot of land you can use for a summer home, in Death Valley.
Kool aid much? Voodoo accounting?, like what? Having the gov tell it it has to fund military pensions? yeah, that's voodoo accounting, but not by the post office.
If you have proof the post office dips into the tax base, show it to me(and not another rush limbaugh like link either please). That link is so far off it isn't funny, a line of credit? Yeah so? The post office has spent billions to automate(which has eliminated about 100,000 jobs) to keep the price of a stamp down, money it had to borrow and pay back. Any profit the post office makes goes back into the government, that's right, it
subsidizes your tax dollar. So yes, it can indeed make a profit, but it goes to the government.
That link you provided is a conservative pro business letter, they want to get their hands on the postal service, yes, they want to buy it. Not the whole thing mind you, just metro areas where they can make money. When that happens you can kiss good bye to sending a letter cross country or to a rural area for 39 cents.
Any money borrowed is payed back, plus any surplus, like the 900 million it was in the black this year. I am sure the treasury will spend it wisely.