Twisted government accounting behind Postal Service woes
You might have heard that the United States Postal Service is in trouble: that it's losing billions, that it will have to end Saturday service and close branches — ...
In fact, it's the Postal Service that’s currently bailing out the U.S. government. Politicians have been raiding Postal Service revenues for years, using them to make the federal deficit appear smaller than it really is. The fiscal gyrations are so twisted that the Postal Service is right now forced to pre-pay health care benefits for employees the agency hasn't even hired yet
— in fact, for many future employees who haven't even been born yet — all to artificially shrink the federal deficit.
It's these crushing accounting tricks, not the cost of delivering mail, that has pushed this 200-year-old institution to the brink....
the Postal Service is being forced to pre-pay health benefits for the next 75 years during a 10-year stretch.