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Why Buying a number of Stamps Won’t Save the USPS

Why Buying a number of Stamps Won’t Save the USPS

“Buy stamps!” “Send mail!” “Save the postoffice!” scream a glut of colorful, well-designed Instagram articles. Over up up on Twitter, lots of people urge their supporters to #BUYSTAMPSNOW.

Make no error: to truly save the oldest service that is public the U.S., social media marketing actually, would like us.

It’s a valid concern. A major donor to President Donald Trump and multi-millionaire, assumed the position of Postmaster General in June, Louis DeJoy. Nearly instantly, DeJoy revealed their want to alleviate the mounting financial obligation weighing along the usa Postal provider (USPS), including eliminating overtime pay and getting rid of mail sorting devices, which ignited issues on how a fractured mail solution could interfere using the future presidential election.

Nevertheless, a mass stamp-buying campaign is not likely to salvage that solution. At the very least maybe maybe maybe not in its present kind.

The USPS is mostly about $160 billion with debt — and “first-class postage sales are not the problem,” claims James O’Rourke, a teacher of administration during the University of Notre Dame’s Mendoza class of company.

What’s actually draining the postoffice, he claims, is a little-known, 14-year-old legislation that is been bleeding the agency dry considering that the Bush management.

The Postal Accountability and Enhancement Act, since it’s called, is just a 2006 bill that will require the postoffice to funnel $6.5 billion a year into retiree health care advantages — ensuring, basically, that the expense of healthcare for retired workers that are postal pre-funded for the following 75 years.

The mandate ended up being unprecedented. All federal agencies and state-owned enterprises (like Amtrak or Freddie Mac) have to pre-fund their retirement benefits and so the expenses are taken into account in their yearly spending plan. But hardly any other federal federal federal government agency, enterprise, or corporation that is private retiree healthy benefits that way, O’Rourke states. (more…)