Tags: House | USPS | bailout

House Committee Video Blasts USPS Bailout

Wednesday, 12 Oct 2011 12:25 PM

The House Oversight Committee is rallying behind a plan by Republican lawmakers to restructure the U.S. Postal Service (USPS) and avoid a taxpayer bailout of the failing institution, reports DailyCaller.com.
 
The committee has posted an Internet video titled “Postal Crisis 101: The Postal Bailout” that gets behind a plan by Reps. Darrell Issa and Dennis Ross to save the Postal Service, which expects 2011 losses of $10 billion.

“Today, the Postal Service almost can’t pay its bills,” says the video’s narrator. “When the Postal Service stops paying, retired postal workers still get benefits. The law says someone has to pay. The question is, who? The answer is you. And that’s a bailout.”

The video also refers to “a fake accounting gimmick” proposed by reform opponents that is a reference to a surplus paid into the service’s retirement account, estimated at $75 billion.

The USPS has not been granted access to these funds after numerous requests. Issa has said that freeing up these funds will not resolve the fundamental problems at the Postal Service, which have to do with declining revenues. As the video points out, 46 billion fewer pieces of mail have been sent since 2006.

The Issa-Ross Postal Reform Bill of 2011, which the Oversight Committee will look at on Thursday, aims to update and streamline the Postal Service’s business model.

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

The 2016 'Book Race': GOP Candidates Like Ben Carson, Huckabee Sell Like Hotcakes

Friday, 30 Jan 2015 20:50 PM

If potential Republican presidential candidates' recent book sales are a strong indication of their electability, then B . . .

Smoke on Boston Train Scares Passengers Who Bust Out Windows to Escape

Friday, 30 Jan 2015 19:37 PM

A commute on Boston's Red Line Thursday morning turned into chaos as smoke filled the train and passengers broke out win . . .

Seth Jackson Sentence: Foster Dad Gets 32 Months in Hot Car Death

Friday, 30 Jan 2015 18:50 PM

Kansas foster dad Seth Jackson was sentenced to 32 months in prison Friday for the July death of a 10-month-old girl who . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved