[Kristen]

I know, an IOU seems pretty useless. If they are issuing IOUs instead of giving money, it makes you wonder if these IOUs are even redeemable for cash ever. How long before the workers quit and we stop recieving our mail?

[deMolay]

Look Kristen, I am Flabbergasted by this news. It is unprecedented in the history of the USA. I live in Canada, and if Ottawa said that we can't pay our CanadaPost workers, it would mean that no other level of government was going to get paid either. It would scare the living shit out of me. It would mean that Canada as a nation could no longer afford core service of the most basic kind. And hand out IOU's. Come on it is OVER.

[Caffeine]

Perhaps we might assume that regular and reliable mail delivery may become a thing of the past... This should be a factor in your planning.

[Kristen]

Canada too?!? oh no! I'm watching CBS news right now and they aren't even covering this. It's all health care, health care and health care.

[hardtootell-2]

$this->bbcode_second_pass_quote('Kristen', 'C')anada too?!? oh no! I'm watching CBS news right now and they aren't even covering this. It's all health care, health care and health care.

[Blacksmith]

Now I read the article to, and I saw a may but no if.

Seems like the Post Office invested their employees retirement funds and are in a shortfall situation as we all are.

Raise the cost of a stamp $0.10USD can you say UPS.

[timmac]

$this->bbcode_second_pass_quote('deMolay', 'T')his is historic shit here. The US Postal Service paying employees with IOU's? And nobody can even whisper DEPRESSION the likes of we have never seen. Can you say Zimbabwe.

[Sixstrings]

$this->bbcode_second_pass_quote('deMolay', 'L')ook Kristen, I am Flabbergasted by this news. It is unprecedented in the history of the USA. I live in Canada, and if Ottawa said that we can't pay our CanadaPost workers, it would mean that no other level of government was going to get paid either. It would scare the living shit out of me. It would mean that Canada as a nation could no longer afford core service of the most basic kind. And hand out IOU's. Come on it is OVER.

[dorlomin]

America is becoming like the UK was in the 70s and for some of the same reasons. Budget shortfalls across all levels of government and a collapse of industry that becomes self sustaining. The difference is that the world economy was able to get motoring on again in the 80s and the UK was able to raise cash by mass privitisations and north sea oil while its deregulation of the financial industry was able to create both a legitimate industry and a bubble that eventualy popped.

There is a way for America to re-industrialise but no one dares contemplate that yet.... trade barriers.

[billbrasky2]

$this->bbcode_second_pass_quote('dorlomin', 'A')merica is becoming like the UK was in the 70s and for some of the same reasons. Budget shortfalls across all levels of government and a collapse of industry that becomes self sustaining. The difference is that the world economy was able to get motoring on again in the 80s and the UK was able to raise cash by mass privitisations and north sea oil while its deregulation of the financial industry was able to create both a legitimate industry and a bubble that eventualy popped.

There is a way for America to re-industrialise but no one dares contemplate that yet.... trade barriers.

[Denny]

$this->bbcode_second_pass_quote('Sixstrings', '
')Well, the difference though is that in the US the postal service was privatized (as in no more government subsidies). And in America, the only private enterprise we bail out is Goldman Sachs.

[deMolay]

Amazing. http://arkansasmatters.com/content/news ... cid=242852

[lowem]

See also :

1. US Postal Service to layoff workers first time in history
2. US Postal Service May Issue IOU's

In related news, the US Postal Service is apparently in quite a bit of trouble ...

[Novus]

Do we even need a Post Office in this day and age. I can't even remember the last time I was at the post office.

[lowem]

$this->bbcode_second_pass_quote('Novus', 'D')o we even need a Post Office in this day and age. I can't even remember the last time I was at the post office.

[kpeavey]

The Fultonville, NY post office is about 1/2 mile from the brand new Fonda, NY post office. Population of Fultonville: 710 in 2000. Population of Fonda: 810 in 2000. They are on the same road. Another 5 miles north is the Johnstown post office.

[jdmartin]

I've been trying almost 2 days to open that site, unsuccessfully. Must be all kinds of people overloading it...

[lowem]

$this->bbcode_second_pass_quote('jdmartin', 'I')'ve been trying almost 2 days to open that site, unsuccessfully. Must be all kinds of people overloading it...

[timmac]

Why don't the postal general just change things, what is he a Democrat, what next bail them out to, how bout stop Saturday service now and maybe go to a 4 day a week service as well, pull your head out of the sand postal general, its not that hard, lay off, cut, cut and cut..


$this->bbcode_second_pass_quote('', 'T')he US Postal Service warned on Friday that it could default on payments it owes the federal government, just days after the US government itself narrowly averted a default.

The government’s mail service said it lost $3.1 billion in the period from April to June, blaming “the anemic state of the economy” and the growing popularity of electronic communications over old-fashioned letters.

As a result of its mounting losses, the US Postal Service said it would not be able to make a legally required $5.5 billion payment in September to a health-benefits trust fund.

[careinke]

With the net, UPS, FEDEX, etc. It is time to consider eliminating the post office. If it can't turn a profit, yet commercial companies can, why keep it around? Of course my Netflix subscription might go up.