Here's another thing. Annual health payment of $5 billion? What the fuck is WRONG with all of them? How sick are these people? Why? Don't they get a physical before they hire them? Do they single out the people most likely to develop long term illnesses? Where is their HR Department, in a cancer ward? Holy crap. Hire some sturdier folk for heaven's sake. I thought they'd be in decent shape walking around all day.
Finally, can we really afford to knock ourselves out to support these people when we know how sick they get and they also periodically blow up and start shooting for no good reason? Enough is enough. Let them fold. We may as well get the zombie thing started already. You know it's coming.
The nearly bankrupt U.S. Postal Service on Thursday reported losses of $57 million per day in the last quarter and warned it will miss another payment due to the U.S. Treasury, just one week after its first-ever default on a payment for future retiree health benefits.[Associated Press]
The mail agency said it is being hurt significantly by mounting expenses for future retiree health benefits. Those expenses, mandated by Congress in 2006, made up $3.1 billion of the post office's quarterly loss, while workers compensation tacked on another $1.1 billion in expenses. The agency's operating loss was $1 billion, mostly due to declines in first-class mail.
"We have simply reached the point that we must conserve cash," Thurgood Marshall Jr., chairman of the Postal Service's board of governors, said in explaining the payment defaults. He cautioned that the mail agency may have to delay other payments if necessary.
The Postal Service for months has been urging Congress to pass legislation that would allow it to eliminate Saturday mail delivery and reduce the annual health payment of more than $5 billion. The post office defaulted on that payment last week when the House failed to take action before heading home for a five-week break.
The mail agency says it will miss the second $5.6 billion payment due on Sept. 30, also for future retiree benefits, as cash runs close to zero.