The US Postal Service (USPS) has lost $92 Billion since 2007.
The US Postal Service (USPS) has lost $92 Billion since 2007. USPS has claimed these losses stem from being forced by law to fund retiree healthcare costs. It hasn’t made a retiree healthcare payment since 2010 and now has $52 Billion in unfunded liabilities. In political slight-of-hand, Congress says USPS is not mandated to make these payments. To quote the Wall Street Journal, “lawmakers want to give permission to quit making payments [it] stopped making a decade ago.” When will we get real reform?
A warning sign for liability insurance: traffic deaths are up 12%.