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February 17, 2013

Lois Ann Firestone remembered To the editor: A dear friend and historian, Lois A. Firestone, died Dec. 26, 2012. Lois was noted for her enjoyment of researching and preserving local history....

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(58)

Truth101

Feb-17-13 9:55 AM

notsocialist, your ignorance never ceases to amaze me.

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Louigi

Feb-17-13 12:41 PM

Google this 'The U.S. Postal Service’s Financial Condition: Overview and Issues for Congress'. This report reveals that there is more going on than an attempt by republicans, or any one else, to close the postal service. They are experiencing declining revenues,over several years. Yet labor costs and other liabilities continue to rise.

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Truth101

Feb-17-13 5:16 PM

Post office does not operate on tax dollars.

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Truth101

Feb-17-13 5:18 PM

Question. Who pays for the retirement benefits for those people that served in the military? Answer. The post office. What kind of bull is that?

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Truth101

Feb-17-13 5:21 PM

not socialist. You think it's great that the post office has to pre fund their pension system 75 years out into the future, and do so in 10 years. If you and other tea baggin Republicans think that is so great, why haven't you extended that requirement to any other entity on the planet?

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Louigi

Feb-17-13 8:45 PM

I would really like to see some proof that military retirement is paid by the post office. Following you will find the actual sources of Military Retirement funding:The Fund receives income from three sources: monthly normal cost payments from the Services to pay for the current year’s service cost; annual payments from Treasury to amortize the unfunded liability and pay for the increase in the normal cost attributable to Concurrent Receipt per the National Defense Authorization Act (NDAA) of 2004; and investment income. During FY 2005, the Fund received approximately $15 billion in normal cost payments, a $23 billion Treasury payment, and approximately $11 billion in investment income, net of premium/discount amortization and accrued inflation compensation. During FY 2004, the Fund received approximately $14 billion in normal cost payments, a $18 billion Treasury payment,

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Louigi

Feb-17-13 8:49 PM

Sources continued... net of premium/discount amortization and accrued inflation compensation. No accounts of the Fund have been excluded from the Fund’s financial statements.

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Louigi

Feb-17-13 9:01 PM

That was from the 2005 DOD report there was another from 2011 but I could not copy and paste that format. Point is why can't we stick to the truth?

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GrantMingus

Feb-17-13 10:11 PM

Riddle me this, Truth101:

Why, if the USPS is so great, despite them having a virtual monopoly in the mail business are they losing money by the second, while private sector UPS and FedEx are combining for a net income of 5+ billion a year?

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ladybug

Feb-18-13 6:27 AM

Masinly because congress has to approve any chages made in post office operations.

Such as Sat. delivery

Hard to do when thet can't get anything else done.

Oh thats right there on recess again for 10 days.

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ladybug

Feb-18-13 6:28 AM

mainly

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Phoenix

Feb-18-13 7:44 AM

Grant, Truth 101 already answered your riddle. The Post Office is mandated by congress to "pre fund their pension system 75 years out into the future and do so in 10 years.", a handicap their competition does not have.

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GrantMingus

Feb-18-13 8:35 AM

Precisely the point, the public sector couldn't figure their way out of a wet paper bag.

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Phoenix

Feb-18-13 8:45 AM

Remind me again Grant, who had to bail out Wall Street?

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ladybug

Feb-18-13 8:51 AM

The post office is also mandated to deliver mail where the other ones won't go.Keep open unprofitable post offices .

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ladybug

Feb-18-13 8:52 AM

Looking around the whole area.apperantly the private sector isn't batting to well either.

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Louigi

Feb-18-13 9:08 AM

At his point the USPS is sitting on a 33 billion liability. IF the payments are stopped it would increase to 100 billion by the end of this decade. This liability is for current postal employees and retirees. By law the USPS does not have to fund projected liabilities, meaning future hires. The current plan will only fund current liabilities out to 54 years. Same sources as mentioned below. Without major reform the USPS could leave the tax payer on the hook for 100 billion by the end of this decade.

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ladybug

Feb-18-13 9:29 AM

kind of hard to reform something when the people in charge won't let them !!

And besides there on a short recess.Lets see that same group who only worked 4 legislative weeks out of the 19 in 2012.

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ladybug

Feb-18-13 9:45 AM

Kind of couriuos ,how many other pension plans are funded out for 54 yrs ??

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GrantMingus

Feb-18-13 9:55 AM

The public sector made the CHOICE to bail out banks, mainly because of insider deals and politicians sticking their nose into it. And also because the government and banks are intertwined for the most part through the FDIC. Notice how bankers aren't working today, are they public employees? No. But they're barely private sector. The public sector made a horrible choice to bail them out, it accomplished nothing aside from kicking the can down the road.

One sector FUNDS the other, one sector is 16 trillion in debt with 100+ trillion in unfunded liabilities, do you REALLY want to get into an argument about who does it better?

Private hospitals>VA hospitals Private schools>Public schools Private space program>NASA FedEx/UPS>USPS...etc, etc, etc.

Didn't you get nervous that there wouldn't be any power to turn on your computer today since the Department of Energy is off? Oh, wait, they just use 30 billion a year and don't produce anything...

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GrantMingus

Feb-18-13 10:16 AM

And we made the choice in big part due to our progressive communist president, who ideally would like everything to be run by the state.

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Phoenix

Feb-18-13 2:00 PM

Grant, government regulation of the private banking industry doesn't make them any less private. The banks management and board still make all of the investing decisions. It was the banks who created the derivative market, overvalued property and partook in predatory lending practices, nobody forced them. I for one, am grateful for the FDIC, after all it's my money they playing around with and history tells us what can happen if our deposits are not protected.

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GrantMingus

Feb-18-13 2:28 PM

When policy is disguised as regulation, it certainly does make them less private. The Federal Reserve is a private bank, yet the chairman is appointed by the President and approved by the Senate and they see through duties that are strictly relegated to Congress via the Constitution. Bubbles are created based on monetary policy, which is not dictated by the market. Does the market set interest rates? No. Wouldn't that qualify them somewhere in between public and private? You're carrying Federal Reserve notes in your pocket right now, probably. Is the Bank of America CEO appointed by the President? When you take over duties that are relegated to our REPRESENTATIVES, you should no longer be a private entity. It's one of the biggest shams in history and it allows them to get away with whatever they want in Washington. The public sector was forced to bail out banks because had we not, our monetary system would have collapsed because of poor policy set by the pseudo-private Fed.

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GrantMingus

Feb-18-13 2:30 PM

The biggest problem is, we created another bubble to save us from the last one. Eventually you run out of bailout money. And the biggest crock of all is that, while controlling our money supply and trying to act as a public entity, the Fed takes advantage of only a few parts of being a private entity--such as, not allowing our representatives to audit them, and making a profit by manipulating our currency. All we did in bailing the banks out was make it clear that our stance on monetary policy hasn't changed and is a clear example of why anything the public sector touches turns to garbage.

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GrantMingus

Feb-18-13 2:33 PM

Don't you see that this stuff happens on purpose and always has throughout history? They're just smarter about it. Your money has been stolen from you and a debt placed on your head that you can never pay. We allowed our markets to be controlled, manipulated and then we said we're alright with that via with the bailout. We sold ourselves. We're all just slaves until we take control of our money again.

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