When the Post Office is on the verge of bankruptcy, they stated that one of their major contributors to this happening is the Health Benefits and Pension payments to the Union Workers?

2 Answers

Tony Newcastle Profile
Tony Newcastle answered
Do you blame the Tea Party participants, or President Obama himself? Where do you belong? Where do you normally stand? What do you think?
Oddman Profile
Oddman answered
Bankruptcy means you cannot cover your obligations. Pension benefits are an obligation. Of course they are a contributor to the condition. Wages, building maintenance, vehicle maintenance, contractor contracts are all contributors.

One can consider the root cause to be the untenable business model imposed by Congress.
thanked the writer.
Joseph Michael Wasik
That's all true and after losing 20 Billion last year, with the administration giving the PO the thumbs down for a rate hike, they cannot afford any of this and had to make the bankruptcy announcements. What do you think?
Joseph Michael Wasik
There are lenders that will take some big hits when they finally pulll their shades down
Oddman
Oddman commented
All of us in the US will take a big hit when the chickens come home to roost.

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