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D Gary Grady

(133 posts)

24. Actually, it says "in excess of 50 years"

Mon Aug 11, 2014, 06:14 PM

Aug 2014

See page 7 of http://www.gao.gov/assets/660/650511.pdf

As the GAO report notes, payments are front-loaded, so that the amounts in question are substantially higher than would be required by a standard amortization schedule for 50 years. I suspect claims of 75-year prefunding are based on looking up what time frame would require such large payments.

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US Postal Service loses $2B this spring [View all] DonViejo Aug 2014 OP

Nice purposefully-misleading headline from the AP, there. byronius Aug 2014 #1

+1 merrily Aug 2014 #2

The post office is not paying for employees not yet born Travis_0004 Aug 2014 #3

So what is the mandated payment for? SoapBox Aug 2014 #4

To fund already-promised benefits. Psephos Aug 2014 #12

pay-as-you-go goldent Aug 2014 #30

Agreed Travis_0004 Aug 2014 #34

Thanks. I'm curious about someting... JackRiddler Aug 2014 #32

Well, since you asked.... Psephos Aug 2014 #33

Committee on Oversight and Government Reform, House of Representatives FreeState Aug 2014 #7

It's 'losing'. louis-t Aug 2014 #10

so you know more than the GAO? Travis_0004 Aug 2014 #15

Someone is lying when they say 75 years of pre-funding. louis-t Aug 2014 #19

Actually, it says "in excess of 50 years" D Gary Grady Aug 2014 #24

And by the way.... louis-t Aug 2014 #11

Yes They are liberalmike27 Aug 2014 #41

Its not republican bullshit when it passed 410 to 20 Travis_0004 Aug 2014 #43

+1. nt bemildred Aug 2014 #8

That was a GOP poison pill bill meant to financially destroy the USPS Triana Aug 2014 #22

Then why..... Kilgore Aug 2014 #26

Why then is the USPS held to fiduciary standards no other organization is? LanternWaste Aug 2014 #27

It's called GAAP Kilgore Aug 2014 #28

It's called "Postal Accountability and Enhancement Act" Triana Aug 2014 #35

Pre-funding will secure future pensions Kilgore Aug 2014 #40

That it's a requirement no other govt or private entities Triana Aug 2014 #45

Lets agree to disagree Kilgore Aug 2014 #49

Do the GAAP liberalmike27 Aug 2014 #42

And passed the Senate on a unanimous voice vote madville Aug 2014 #48

Exactly. It should say "Post Office Robbed of $2 Billion." arcane1 Aug 2014 #52

I am preparing for a meeting on the 18th regarding our local PO tech3149 Aug 2014 #5

+1 SoapBox Aug 2014 #9

They helped write it, Kennedy, Waxman, Sanders, etc. madville Aug 2014 #47

I fully understand that this is a manufacture crises. Paolo123 Aug 2014 #14

South Korea has postal banking davidpdx Aug 2014 #16

Yes and Japan does as well. Paolo123 Aug 2014 #18

Well I'm for getting rid of junk mail for one reason davidpdx Aug 2014 #25

The so-called junk mail pays for the 1st class. former9thward Aug 2014 #29

I believe the post office also used to sell government bonds. I wish they would do LoisB Aug 2014 #31

An interesting idea davidpdx Aug 2014 #39

Small to medium sized businesses need the service. SoapBox Aug 2014 #20

I agree Paolo123 Aug 2014 #21

What about this? 'The USPS financial turnaround continues!' elleng Aug 2014 #6

Oh cool! More business opportunities for Mr. Dianne Feinstein! RufusTFirefly Aug 2014 #13

Post offices/post roads are specifically called out in Constitutional Powers. They should have 24601 Aug 2014 #17

Oh, look, I found it! silvershadow Aug 2014 #23

^This.^ blkmusclmachine Aug 2014 #37

I bet UPS and FedEx are salivating!!! blkmusclmachine Aug 2014 #36

Damn right. Congress is acting on their behalf. Read this... Triana Aug 2014 #38

The Brits have privatized their postal service Kilgore Aug 2014 #50

So what? The service the USPS provides is worth 10x the cost. Hugin Aug 2014 #44

Which service? Lonusca Aug 2014 #46

Not worth 10X to me in its present form Kilgore Aug 2014 #51

So, you have decided to try to get your monies worth out of the private option. Hugin Aug 2014 #53