Fortune, unlike NPR and other news outlets analyzing the current, corrupt- smelling Postal Service situation (slow-down in deliveries ordered by leading Trump donor/Postmaster General to “increase efficiency”), reported (in its July 24 edition):
But the agency has been rapidly losing money since a 2006 law, passed with the support of the George W. Bush administration, required USPS to pre-fund employee retiree health benefits for 75 years in the future. That means the Postal Service must pay for the future health care of employees who have not even been born yet. The burden accounted for an estimated 80% to 90% of the agency’s losses before the pandemic.
Critics call the law “draconian” and say that it was created with the intention of leading the Postal Service toward privatization. No other federal agency bears this burden.
Bravo. Thank you.
What about the rest of you news sources?
