NYT:
The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances.
“Our situation is extremely serious,” the postmaster general, Patrick R. Donahoe, said in an interview. “If Congress doesn’t act, we will default.”
In an age when food stamps, unemployment checks (in most states), and welfare is made electronically to debit card accounts, why would WE ALL AS TAXPAYERS BAIL OUT A BUGGY WHIP FACTORY?
DARWIN BECKONS
5 comments:
Well, if they are merely a "buggy whip factory" (and I agree that they are) then it will not be the start of a civilizational collapse if they themselves collapse.
Maybe Bruce Springsteen could write a whole fucking album of stupid-ass acoustic guitar music about the "Plight of the Postmen."
I can't fucking wait.
One of the things that has made this recession drag out the way it has is that we keep creating false bottoms by bailing non-viable businesses out.
I have bad news for everyone; Commercial Real Estate (leases) are still terribly overpriced.
Until that shit straightens itself out, we are in for yet more crap.
Up here, real estate prices are so stagnant and declining compared to commercial leases, that people are buying homes to conduct business and working with town offices to do so. Often the towns, where everyone knows everyone and no one wants to see ANYONE go broke, are very cooperative.
There are a lot of double dippers working for the USPS (some military in there). They do not need healthcare benefits from the USPS.
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