Hearing Focuses on Postal Service Finances
The U.S. Postal Service is hurting and hurting badly.
To explore just how badly, the Senate subcommittee on federal financial management, government information, federal services and international security is holding a hearing today on "the impact of the economic crisis on the U.S. Postal Service."
A Government Accountability Office report, "Deteriorating Postal Finances Require Aggressive Actions to Reduce Costs," scheduled for release today provides some background and guidance. It says Postal Service revenues are flat, despite rate increases. The bad economy has reduced mail volume, while fuel costs and cost-of-living pay raises for employees have increased expenses.
GAO says, among other things, Congress could help the Postal Service by allowing it to change the way it funds retiree health benefits.
William Burrus, president of the American Postal Workers Union, has told his members that any action designed to fix Postal Service finances that affects employees should be spread around. "There is no justification for the retention of supervisors, managers and contract employees at previous levels when the number of craft employees has been reduced...," he said.
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