The day of reckoning looms: According the the inspector general, the Post Office will go out of business this year unless Congress bails it out.
And where will Congress and President Obama find the cash? Print it of course, which of course they plan to do with all their other budget problems. Get ready for inflation, gang!
It has been interesting watching the developments at the USPS over the last several years. The reason why they are struggling so bad is because they have to fund their pension obligations as they go. Nothing shows how unsustainable government worker pension plans are than having to fund them in advance.
From the Wikipedia article on the Postal Clause of the Constitution “Thomas Jefferson feared that the postal service would become a source of patronage and a waste of money.” Source: Letter from Thomas Jefferson to James Madison, 6 March 1796
Right on both counts.