Posted by | July 20, 2012 13:26 | Filed under: Top Stories

Congress could intervene, but so far has been unwilling to do so.

Congress passed the Postal Accountability and Enhancement Act of 2006 (PAEA). Under PAEA, USPS was forced to “prefund its future health care benefit payments to retirees for the next 75 years in an astonishing ten-year time span” — meaning that it had to put aside billions of dollars to pay for the health benefits of employees it hasn’t even hired yet, something “that no other government or private corporation is required to do.”

As consumer advocate Ralph Nader noted, if PAEA was never enacted, USPS would actually be facing a $1.5 billion surplus today…

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.