Via Truthout comes this post on the US Post Office:
The post office makes a profit — expected to be more than a billion dollars this year.
Yet, the media keeps reporting that the USPS is losing billions of dollars each year. What they fail to mention is that those are phony paper losses manufactured by Congress at the behest of corporate privatizers.
Late in 2006, the lame duck Republican Congress rammed into law a cockamamie requirement that the Postal Service must pre-fund the retiree health benefits of everyone it employs or expects to employ for the next 75 years. Hello? That includes workers who’re not even born yet! No other business in America is required to pre-fund such benefits for even one year. To add to Congress’ cockamamie-ness, the service is being forced to put up all of that money within just 10 years — which has been costing USPS more than $5 billion a year. That artificial burden accounts for 100 percent of the so-called “losses” the media keep reporting.