Re: “Privatize US Postal Service” (Off the wire, 10-1).
The commententary about privatizing the U.S. Postal Service couldn’t be more wrong. The losses that the USPS suffers are almost entirely attributed to Congress requiring that it prepay retirement obligations to include employees who haven’t been born yet.
No other government agency or private business requires this. Imagine that you are required to prepay your income tax for the next 20 years. What kind of financial problems would you be having?
The U.S. General Services Administration revealed that the USPS has overpaid this requirement, but Congress will not return the money. If it was not for the prepayment requiremen, the USPS would be in the black.
The USPS provides an equitable service for all Americans, not just those who live in urban areas. Even today, the private companies contract with the USPS to deliver in rural areas.
The commentary mentions that delivery has recently suffered. That is true, but only because of the closure of numerous processing centers throughout the country. But the commentary says that the USPS should close down even more plants.