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Who really uses the Post Office?
select-fire
Member Posts: 69,527 ✭✭✭✭
Every bill can be paid online. If you want to ship options are UPS or FedX. Maybe the USPS needs to go to only shipping. Bout like newspapers.. the USPS is outdated..
WASHINGTON (AP) - The U.S. Postal Service, on the brink of default on a second multibillion-dollar payment it can't afford to pay, is sounding a new cautionary note that having squeezed out all the cost savings within its power, the mail agency's viability now lies almost entirely with Congress.
In an interview, Postmaster General Patrick Donahoe said the mail agency will be forced to miss the $5.6 billion payment due to the Treasury on Sunday, its second default in as many months. Congress has left Washington until after the November elections, without approving a postal fix.
For more than a year, the Postal Service has been seeking legislation that would allow it to eliminate Saturday mail delivery and reduce its $5 billion annual payment for future retiree health benefits. Since the House failed to act, the post office says it's been seeking to reassure anxious customers that service will not be disrupted, even with cash levels running perilously low.
"Absolutely, we would be profitable right now," Donahoe told The Associated Press, when asked whether congressional delays were to blame for much of the postal losses, expected to reach a record $15 billion this year.
He said the two missed payments totaling $11.1 billion for future retiree health benefits - payments ordered by Congress in 2006 that no other government agency or business is required to make - along with similar expenses make up the bulk of the annual loss. The remainder is nearly $3 billion in losses, he said, which would have been offset by savings if the service had been allowed to move to five-day mail delivery.
Donahoe said the post office will hit a low point in cash next month but avert immediate bankruptcy due to a series of retirement incentives, employee reductions and boosts in productivity among remaining staff that saved nearly $2 billion over the past year.
But the post office has few tools left to build its revenue, he said, without either having to pay upfront money it lacks or get approval from postal unions or Congress.
"We've done a lot to reduce cost out of our system," Donahoe said. "The problem now is this: There's nowhere to go."
Postal unions also say Congress is mostly to blame for losses, but disagree that a reduction to five-day delivery is an answer.
"What is needed is for Congress to undo the harm it has done with the prefunding mandate and for the Postal Service to develop a balanced plan moving forward," said Fredric Rolando, president of the National Association of Letter Carriers. He said cutting Saturday delivery would in particular hurt rural residents and the elderly who depend more heavily on the mail for prescription drugs and other goods.
The Postal Service last month failed to pay $5.5 billion, its first default ever on a payment. While it will miss a second payment Sunday, it expects to make a $1.4 billion payment due to the Labor Department on Oct. 15 for workers' compensation. Cash levels are expected to hit a low after that labor payment before rising again due to increased volume from holiday and election mail, including ballots for early voting.
The mail agency said the two payment defaults will not affect day-to-day operations. Post offices will stay open, and suppliers and employees will get paid. Longer term, however, Donahoe has cautioned that a "crisis of confidence" over postal solvency could damage growth.
The post office also remains vulnerable to shifts in the economy that could suppress mail volume. Both FedEx Corp. and UPS recently have cut their earnings forecasts, citing in part slow global economic growth.
"The key thing is Congress must act during the lame-duck session and get this whole thing behind us," said Donahoe, referring to the few weeks lawmakers will be in session after the election before a new Congress takes office in January. "We can't have a Postal Service where customers are constantly worried about our ability to make payments."
"That's no way to run a business," he said.
Congress will have a full agenda of pressing fiscal issues when it returns in November, and some lawmakers have raised the possibility that postal legislation will get pushed over to the next Congress. Rep. Darrell Issa, R-Calif., who chairs the House Oversight and Government Reform Committee and is a sponsor of the House bill, has said he believes some kind of legislation can be passed in the lame-duck session, although it may not be as comprehensive as initially sought.
The Senate passed a postal bill in April that would have provided financial relief in part by reducing the annual health payments and providing an $11 billion cash infusion, basically a refund of overpayments the Postal Service made to a federal pension fund. The House, however, remains stalled over a separate bill that would allow for aggressive cuts, including an immediate end to Saturday delivery. Rural lawmakers in particular worry about the impact of post office closures in their communities.
The Postal Service originally planned to close low-revenue post offices in rural areas to save money, but after public opposition it now is moving forward with a new plan to keep 13,000 of them open with shorter operating hours. The Postal Service also will begin closing more than 200 mail processing centers next year, but the estimated annual savings of $2.1 billion won't be realized until the full cuts are completed in late 2014.
"Once again, we are watching the days slip away before the U.S. Postal Service faces the second default of its history. Republican leaders in the House of Representatives have now had 11 months to do the right thing and fix the serious, but solvable, financial challenges," said Sen. Tom Carper, D-Del., a co-sponsor of the Senate bill. "Every day Congress delays fixing this problem, the financial challenge grows more difficult and the potential solutions become more expensive."
The Postal Service, an independent agency of government, does not receive tax dollars for its day-to-day operations but is subject to congressional control.
Art Sackler, co-coordinator of the Coalition for a 21st Century Postal Service, a group representing the private-sector mailing industry, said many businesses are preparing their budgets for next year and have no idea whether to expect disrupted service or higher postage costs.
"Congress needs to act quickly on comprehensive postal reform," he said. "These defaults, mounting debts and declining revenues aren't just going to hurt the Postal Service; they're going to hurt the 8 million Americans whose jobs depend on the mail."
WASHINGTON (AP) - The U.S. Postal Service, on the brink of default on a second multibillion-dollar payment it can't afford to pay, is sounding a new cautionary note that having squeezed out all the cost savings within its power, the mail agency's viability now lies almost entirely with Congress.
In an interview, Postmaster General Patrick Donahoe said the mail agency will be forced to miss the $5.6 billion payment due to the Treasury on Sunday, its second default in as many months. Congress has left Washington until after the November elections, without approving a postal fix.
For more than a year, the Postal Service has been seeking legislation that would allow it to eliminate Saturday mail delivery and reduce its $5 billion annual payment for future retiree health benefits. Since the House failed to act, the post office says it's been seeking to reassure anxious customers that service will not be disrupted, even with cash levels running perilously low.
"Absolutely, we would be profitable right now," Donahoe told The Associated Press, when asked whether congressional delays were to blame for much of the postal losses, expected to reach a record $15 billion this year.
He said the two missed payments totaling $11.1 billion for future retiree health benefits - payments ordered by Congress in 2006 that no other government agency or business is required to make - along with similar expenses make up the bulk of the annual loss. The remainder is nearly $3 billion in losses, he said, which would have been offset by savings if the service had been allowed to move to five-day mail delivery.
Donahoe said the post office will hit a low point in cash next month but avert immediate bankruptcy due to a series of retirement incentives, employee reductions and boosts in productivity among remaining staff that saved nearly $2 billion over the past year.
But the post office has few tools left to build its revenue, he said, without either having to pay upfront money it lacks or get approval from postal unions or Congress.
"We've done a lot to reduce cost out of our system," Donahoe said. "The problem now is this: There's nowhere to go."
Postal unions also say Congress is mostly to blame for losses, but disagree that a reduction to five-day delivery is an answer.
"What is needed is for Congress to undo the harm it has done with the prefunding mandate and for the Postal Service to develop a balanced plan moving forward," said Fredric Rolando, president of the National Association of Letter Carriers. He said cutting Saturday delivery would in particular hurt rural residents and the elderly who depend more heavily on the mail for prescription drugs and other goods.
The Postal Service last month failed to pay $5.5 billion, its first default ever on a payment. While it will miss a second payment Sunday, it expects to make a $1.4 billion payment due to the Labor Department on Oct. 15 for workers' compensation. Cash levels are expected to hit a low after that labor payment before rising again due to increased volume from holiday and election mail, including ballots for early voting.
The mail agency said the two payment defaults will not affect day-to-day operations. Post offices will stay open, and suppliers and employees will get paid. Longer term, however, Donahoe has cautioned that a "crisis of confidence" over postal solvency could damage growth.
The post office also remains vulnerable to shifts in the economy that could suppress mail volume. Both FedEx Corp. and UPS recently have cut their earnings forecasts, citing in part slow global economic growth.
"The key thing is Congress must act during the lame-duck session and get this whole thing behind us," said Donahoe, referring to the few weeks lawmakers will be in session after the election before a new Congress takes office in January. "We can't have a Postal Service where customers are constantly worried about our ability to make payments."
"That's no way to run a business," he said.
Congress will have a full agenda of pressing fiscal issues when it returns in November, and some lawmakers have raised the possibility that postal legislation will get pushed over to the next Congress. Rep. Darrell Issa, R-Calif., who chairs the House Oversight and Government Reform Committee and is a sponsor of the House bill, has said he believes some kind of legislation can be passed in the lame-duck session, although it may not be as comprehensive as initially sought.
The Senate passed a postal bill in April that would have provided financial relief in part by reducing the annual health payments and providing an $11 billion cash infusion, basically a refund of overpayments the Postal Service made to a federal pension fund. The House, however, remains stalled over a separate bill that would allow for aggressive cuts, including an immediate end to Saturday delivery. Rural lawmakers in particular worry about the impact of post office closures in their communities.
The Postal Service originally planned to close low-revenue post offices in rural areas to save money, but after public opposition it now is moving forward with a new plan to keep 13,000 of them open with shorter operating hours. The Postal Service also will begin closing more than 200 mail processing centers next year, but the estimated annual savings of $2.1 billion won't be realized until the full cuts are completed in late 2014.
"Once again, we are watching the days slip away before the U.S. Postal Service faces the second default of its history. Republican leaders in the House of Representatives have now had 11 months to do the right thing and fix the serious, but solvable, financial challenges," said Sen. Tom Carper, D-Del., a co-sponsor of the Senate bill. "Every day Congress delays fixing this problem, the financial challenge grows more difficult and the potential solutions become more expensive."
The Postal Service, an independent agency of government, does not receive tax dollars for its day-to-day operations but is subject to congressional control.
Art Sackler, co-coordinator of the Coalition for a 21st Century Postal Service, a group representing the private-sector mailing industry, said many businesses are preparing their budgets for next year and have no idea whether to expect disrupted service or higher postage costs.
"Congress needs to act quickly on comprehensive postal reform," he said. "These defaults, mounting debts and declining revenues aren't just going to hurt the Postal Service; they're going to hurt the 8 million Americans whose jobs depend on the mail."
Comments
I also write out checks, put them in envelopes, stamp and mail.
I guess I am old fashioned, but unlikely to change.
My son Travis has a checking account at the same bank I use. He has used this same account since he was in high school, so about 7 years. He has yet to purchase a box of blank checks.
its pretty simple really. the postal system was designed when they were top dog and as their relevance(volume) has decreased, they have not scaled down to reflect this. thus, they have a massive empire with relatively minuscule revenue.
if they can(and will) reduce their size to reflect their need, then they can survive. if they refuse to do so and demand to pretend they still need so many stations and hubs and their gigantic infrastructure, then they will bleed themselves dry until there no longer is a usps.
pretty hard to show a profit when you have to pay retirment 20 years in advance
Get a grip! Us old folks still read the papers, read mags. We still have PO boxes and use them on a regular basis. We also go to the PO most days of the week. And there are still more of us that those in the 18-25 age group. And watch what happens sometime in a bank when the computers go down...like they did this summer for TWO WEEKS in WV. And the tellers just sit there with nothing to do! We still need the PO no matter what you young "whippershnappers" think[;)]I just wish Congress and Tom Carper would spring into action and get the problem solved...but thats another issue.
you're absolutely right, but your demographic is dying a lot faster than mine. once your generation is gone(or reduced to an insignificant statistic), so will go the "old ways" like mailing a paper check to the gas company.
its only a matter of time before the post office is obsolete. thats just life. i can convey information to somebody as far away from as is physically possible on earth in less time than it takes the clerk at the post office to turn around and throw my letter in the bin behind her. i can pay a bill instantly online, and get a discount for doing so.
if the usps scales way down, they MIGHT be able to remain in business until the baby boomers die off, but thats the end of the line for them.
I went 'online' to fill out an 'online' form... just to get to the end and be advised to:
"Print out this .pdf doc and fill in the blanks, and (USPS 'snail') mail it to the 'above' address..."
WTH???
Why have me go through the 'online' process only to have to "Do It Again Sam" with a piece of paper...?
Cost me a whopping $0.45 for a stamp too... [}:)]
If I can't pay by online ETF directly from my bank... I usually set up a "check" payment 'from' the bank.
The bank will write, print, and 'Snail' MAIL via USPS a hard printed check to the intended recipient... FREE.
Without me having to remember to meet the postman in the morning or go to the post office when I forget... [:D]
I prefer ETF transactions entirely and resist using the USPS as much as is possible...
With that said... 'shipping' like Kev mentioned... Is cheaper and just as easy via USPS.
IF you have something that "fits" and 'ships' in one of those pre-formatted Priority packages...
They'll even 'pick-up' if you schedule it... Saves on Diesel for sure. [:D]
W.D.
Guess I Should not stock up on Fornever Stamps[:o)]
+1[:D]
quote:Originally posted by nunn
I use the USPS for shipping parcels, exclusively. I take the packages to the counter, pay the postage, and they are gone.
I also write out checks, put them in envelopes, stamp and mail.
I guess I am old fashioned, but unlikely to change.
Ditto. I refuse to do any 'on line' banking or bill paying or sign up to any utility company, credit card company or whatever to 'automatically' debit my checking account. [}:)]
I have a legal right to see a written invoice, determine if it is correct and then pay it. You would be suprised how many outfits add charges or over charge and once they got your $$$, you play hell and months to get it back.
[:(]
You need to learn what online banking in terms of 'bill-pay' is.
I don't give anyone access to my checking account/credit card for automatic payments.
I also get paper bills.
Using online banking bill-pay is no different than writing a check in all honesty. It's a one time payment, just like your check is.
Actually small payees receive a paper check from the bank, but you have to allow more time. They pay the postage BTW!
I have been using it for many years, and I have not had the first issue whatsoever.[:)]
quote:Originally posted by us55840
quote:Originally posted by nunn
I use the USPS for shipping parcels, exclusively. I take the packages to the counter, pay the postage, and they are gone.
I also write out checks, put them in envelopes, stamp and mail.
I guess I am old fashioned, but unlikely to change.
Ditto. I refuse to do any 'on line' banking or bill paying or sign up to any utility company, credit card company or whatever to 'automatically' debit my checking account. [}:)]
I have a legal right to see a written invoice, determine if it is correct and then pay it. You would be suprised how many outfits add charges or over charge and once they got your $$$, you play hell and months to get it back.
[:(]
You need to learn what online banking in terms of 'bill-pay' is.
I don't give anyone access to my checking account/credit card for automatic payments.
I also get paper bills.
Using online banking bill-pay is no different than writing a check in all honesty. It's a one time payment, just like your check is.
Actually small payees receive a paper check from the bank, but you have to allow more time. They pay the postage BTW!
I have been using it for many years, and I have not had the first issue whatsoever.[:)]
Yep...
I PAY bills by direct bank EFT... Not a draft on my bank account by the payee.
I've never accepted "green" electronic bills... They can send me my invoice (bill) in the mail...
I'll either look at paper or go online and take a look see there...
"I will" set up a payment structure based upon MY billing... Not the other way around.
I do this 'cause it's easier for me to schedule and eliminate unnecessary fees... postage, cost of checks, etc.
If the payee doesn't accept EFT from the bank... Then I set up a paper check to be mailed from the bank.
Either way... It's my choice of when and how much to pay... Not their choice to decide to take what they want.
Bill Pay is good for the consumer... Billing drafts are only good for the company getting paid.
Besides... My information remains with the bank... NOT the other way around. [;)]
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
I can't find anyone else to delivery my mail.[8D]
Every bill can be paid online. If you want to ship options are UPS or FedX. Maybe the USPS needs to go to only shipping. Bout like newspapers.. the USPS is outdated..
Maybe you should go out front and stick that mailbox up your * then.
quote:Originally posted by select-fire
Every bill can be paid online. If you want to ship options are UPS or FedX. Maybe the USPS needs to go to only shipping. Bout like newspapers.. the USPS is outdated..
Maybe you should go out front and stick that mailbox up your * then.
While that event would be interesting, I believe I will get another IBTL post![:D]
quote:Originally posted by select-fire
Every bill can be paid online. If you want to ship options are UPS or FedX. Maybe the USPS needs to go to only shipping. Bout like newspapers.. the USPS is outdated..
Maybe you should go out front and stick that mailbox up your * then.
Hilarious... I don't have a mailbox at my home. [:D][:D]
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
I use online bill pay and no, not every bill can be paid "online". My bank cuts checks that are mailed via USPS to payees that can't receive an auto transfer.
As I said previously.
Difference is, the bank pays the postage.[:)]
They have admitted that most of their deliveries consist of junk mail. I know that's the case for me.
I use online bill pay and no, not every bill can be paid "online". My bank cuts checks that are mailed via USPS to payees that can't receive an auto transfer.
They need to get with it [:o)]
It was a return to Best Buy.
Take my word for it, don't buy a Toshiba computer.
I say Give the USPS to WALMART
and yes i said 3/4 of a million dollars