The Post Office would have made over $400,000 in 2012, but a death stroke bill passed in December 2006 mandating that within 10 years the Post Office had to pony up 75 years in advance all the health care benefits of all the postal retirees. This burden costs the Post Office over $5 billion a year.
That kind of burden would kill any department especially when it is regulated by a Postal Regulatory Commission.
The Post Office had before 2006 been paying the former expense on a year to year expense payment. Now the rules were changed by “The Postal Accountability and Enhancement Act of 2006.”
A politician that I contacted about the severity of this law didn’t mention that law, but tried to give the impression that the problem was that the Post Office had a mismanagement problem. So if there was severe mismanagement why did the outgoing Postmaster General receive a $5.5 million bonus in December 2010?
Local newspapers had better wake up before the post office keeps on closing sorting stations and offices. The papers will become history papers.