The Postal Service will default this week on a $5.5 billion payment, but most lawmakers appear unconcerned — except for Sen. Tom Carper (D-Del.), who has been the lone voice warning about the dangers of Congressional inaction.
That’s because the Postal Service itself is making this an easy issue for Congress to ignore even as it faces a dire financial situation. The service’s website home page has no warnings about post office closings or delayed deliveries. To the contrary, an official statement issued Monday seems to downplay the severity of the problem.
“This action will have no material effect on the operations of the Postal Service. We will fully fund our operations, including our obligation to provide universal postal services to the American people,” the Postal Service said in a statement. “We will continue to deliver the mail, pay our employees and suppliers and meet our other financial obligations. Postal Service retirees and employees will also continue to receive their health benefits.”
In truth, the Postal Service will skip more than $11 billion in mandatory contributions for employee retirement programs between now and Sept. 30 in order to avoid dramatic service cuts. Nearly half of that amount is due to the Treasury on Aug. 1, the remainder at the end of the government’s fiscal year.
Read more: http://www.rollcall.com/issues/58_14/USPS-Default-Alarms-Carper-216573-1.html?pos=htmbtxt
That’s because the Postal Service itself is making this an easy issue for Congress to ignore even as it faces a dire financial situation. The service’s website home page has no warnings about post office closings or delayed deliveries. To the contrary, an official statement issued Monday seems to downplay the severity of the problem.
“This action will have no material effect on the operations of the Postal Service. We will fully fund our operations, including our obligation to provide universal postal services to the American people,” the Postal Service said in a statement. “We will continue to deliver the mail, pay our employees and suppliers and meet our other financial obligations. Postal Service retirees and employees will also continue to receive their health benefits.”
In truth, the Postal Service will skip more than $11 billion in mandatory contributions for employee retirement programs between now and Sept. 30 in order to avoid dramatic service cuts. Nearly half of that amount is due to the Treasury on Aug. 1, the remainder at the end of the government’s fiscal year.
Read more: http://www.rollcall.com/issues/58_14/USPS-Default-Alarms-Carper-216573-1.html?pos=htmbtxt
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