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$65.2 B. By 2019, it was 496,934, a reduction of over 300,000 full-time employees. This is exactly what has been happening to the Postal Service for years. USPS reports [4] that it expects costs to continue to rise: “Compensation and benefits expenses are planned to increase by $1.1 billion in FY2019, due to wage increases by $0.6 billion resulting from contractual general increases and cost-of-living adjustments.” The agency also expects its transportation and retiree health benefits expenses to increase by $1 billion. $71.1 B. What the USPS needs is not a bailout but rationale operating conditions and a chance to do its part in the fall elections. Postal Service (USPS) recently closed its books for the 2019 fiscal year, and things aren’t looking so good as it heads into 2020.USPS has a whopping $120 billion in pension and other post-employment unfunded liabilities.That’s an amount equal to the GDP of Ukraine. According to a study by consultancy Rakuten Intelligence, as of May 2019, USPS handled about one-third of Amazon's deliveries, down from 60% at … The net loss for the year was $8.8 billion, an increase in net loss of $4.9 billion … USPS’s total unfunded liabilities and debt ($143 billion at the end of fiscal year 2018) have grown to double its … $70.6 B. The U.S. (Let’s remember, by the way, that the odds of voting fraud occurring are so low that it’s more likely you’d be struck by lightning or attacked by a shark.). The agency has around $120 billion in unfunded debt and obligations, most of which flow from compensation and benefits owed to its significant cohort of employees and retirees. The U.S. Post Office owes $100 Billion in benefits to its workers/retirees but doesn’t have the money. (AP Photo) The United States Postal Service (USPS) lost $5.5 billion last year. The pre-funding is the source of most of the deficits—about $110 billion as a direct result, according to the office of Rep. Peter DeFazio (D-Ore). 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011; Annual operating revenue . The new USPS still had to provide uniform service and pricing. But the new USPS became responsible for the ongoing increased pension benefits. As planned, the Postal Service reduced its debt level during 2019 by $2.2 billion, finishing the year with $11.0 billion in debt outstanding. From the early 1970s through the turn of the century, the agency frequently broke even. Source: Government Accountability Office, Continuing Financial Challenges and the Need for Postal Reform, GAO-16-651T. Whether the 116th Congress will take up postal reform is far from clear. This marks 13 years of consecutive losses for the USPS, totaling $77.8 billion. The U.S. Welcome to USPS.com. Controllable loss for the year was $3.4 billion, an increase of $1.5 billion compared to the prior year. The United States Postal Service (USPS), the nation’s national mail carrier service, is under increased scrutiny from politicians who are warning that the agency is not prepared to handle the tens of millions of mail-in ballots which are expected to be sent for the November election. The Postal Service has a total debt of around $120 billion, according to the Government Accountability Office (GAO). Mail volume dropped more than a quarter, and has not rebounded. This is false; the USPS had a net loss of $8.8 billion in 2019, and its total liabilities exceed $97 billion, according to official disclosures. Net income or loss from ... restructuring of short-term debt to long-term debt in FY 2019 led to a $3.1 billion decrease in current liabilities, the only such decrease since FY 2010. Congress turned the Post Office Department into the U.S. These funded liabilities represent several different items, including unfunded liabilities for pension benefits, health benefits, and outstanding debt. That is largely driven by the diminishing First-Class Mail service, which shrank by 3.1 percent. USPS’s Total Debt Is Immense ($Billions). Find information on our most convenient and affordable shipping and mailing services. Opinions expressed by Forbes Contributors are their own. The Postal Service presently does have $10 billion in cash, so it certainly can minimally service its debt. The U.S. That's about how long the postal service has faced declining mail volumes and a growing mountain of debt. Last year, the U.S. Even this was minor, though, in comparison to the treatment by elected officials who saddled the agency with “debt and financial disadvantage,” according to an email exchange I had with Philip F. Rubio, a former USPS letter carrier and now a professor of history at North Carolina A&T State University. You may opt-out by. USPS’s Retiree Health Benefits Will Go Bankrupt. The Postal Service is legally obligated to serve all Americans, regardless of geography, at uniform price and quality. The Postal Service is in dire financial straits because its revenues are insufficient to support its operational costs and liabilities. You don’t require full funding in advance, including pensions for people who haven’t been born, let alone hired, unless you want to make it difficult to run the organization. That means all pension obligations including those from when the person was in the military and not a postal worker. The Postal Service was designed to be a self-funding agency. with Canyon Brimhall. (Photo by Spencer Platt/Getty Images). The United States Postal Service (USPS), the nation’s national mail carrier service, is under increased scrutiny from politicians who are warning that the agency is not prepared to handle the tens of millions of mail-in ballots which are expected to be sent for the November election. Postal Service (USPS) currently owes $99.8 billion in benefit payments to its current and retired workers but does not have the money, and if Congress does not act to fix the problem, the Postal Service may have to “implement contingency plans to ensure that mail delivery continues,” according to a new report by the Government Accountability Office (GAO). USPS’s pension obligations remain about $21 billion short of full funding. If Dems Take Georgia Here’s How $2000 Stimulus Checks Could Play Out, Here’s What The New Round Of PPP Loans Means For Black-Owned Businesses, UK Judge’s Decision To Not Extradite Julian Assange Influenced By Conditions In US Bureau Of Prisons, What The Stimulus Package Means For Your Student Loans, you’d be struck by lightning or attacked by a shark, Trump’s allies sold the voter fraud conceit to him, 44% of the 2020 federal discretionary budget, postal system’s dire financial straits takes some history. “[T]he USPS was on the hook for the whole pension of any veteran who worked for it” because of the 2003 Pension Reform Act, Rubio wrote. 1212 New York Ave. Share. The following chart lists the 2019 pay periods. Its two-day on-time service dropped from 94% to 88.2% from 2019 to 2020. Through FY 2019, the USPS’s operating deficit was nearly $75 billion and, according to the Government Accountability Office (GAO), has long-term unfunded liabilities of $161 billion. US National Debt Clock : Real Time U.S. National Debt Clock Postal Service has hit its $15 billion debt limit and can't borrow anymore from the U.S. Treasury. Would Stimulus Payments Have Been Bigger If Trump And Democrats Called Them Tax Relief? My credits include Fortune, the Wall Street Journal, the New York Times Magazine, Zenger News, NBC News, CBS Moneywatch, Technology Review, The Fiscal Times, and Inc. Get my free newsletter at https://eriksherman.substack.com. USPS’s Credit Line Is Nearly Tapped ($Billions), USPS is a massive enterprise. Trump 2019 budget proposes numerous USPS changes Feb 16, 2018, 4 AM President Trump’s proposed 2019 budget recommends ending six-days-a-week mail delivery, potentially idling United States postal vehicles on Saturdays. Washington Postal Scene by Bill McAllister. It was 44% of the 2020 federal discretionary budget. Posted on December 20, 2018 December 20, 2018 by 21cpw. Chart 5. The U.S. Ultimately, much of it comes down to a scheme that was a subsidy for the Department of Defense—responsible, by the way, for 18% of all on-budget spending in the 2019 fiscal year. In 2006, a Republican-dominated Congress passed a bill, signed by George W. Bush, that required the USPS to pre-fund, over a ten-year period, pensions for 75 years in advance. Virginia Incumbent Attorney General Seeks Reelection, Skips Governor’s Race. Every day the network gets smarter, faster and more intuitive, delivering solutions and … Postal Service (USPS) ran a deficit of $3.9 billion. This depresses the post’s revenue, forcing it to take on more debt, which in turn puts it under greater financial pressure. Freelance business, economics, finance, and tech journalist. Virginia AG Mark Herring reportedly will seek a third term as AG and not run for governor as previously reported. That is an immense sum, particularly for an organization that shows little capacity to generate the revenues required to fund itself. My credits include Fortune, the Wall Street Journal, the New York Times Magazine, Zenger News, NBC News, CBS Moneywatch, Technology Review, The Fiscal Times, and Inc. Get. Total revenue was $17.1 billion, essentially flat from the same period one year earlier. $69.6 B. But it has in recent years failed to pay towards its retiree health benefits obligations. House passes legislation to ease USPS debt burden. USPS cut 4.3 million work hours in the last three quarters of fiscal 2019 through attrition and a reduction in overtime. The USPS Fairness Act , which passed the House at the start of 2020 and is currently before the Senate, is a misguided approach to solving the retirement fund’s issues. President Trump in recent weeks has called the Postal Service "a joke" as the agency is experiences delays in mail delivery due to the coronavirus pandemic and financial pressures. Here are some highlights: • Revenue. The Postal Service reported a loss of $2.7 billion for the fiscal year that ended Sept. 30. $71.4 B. It was a way to offload big expenses from federal responsibility to the new agency. During the quarter, three-to-five day on-time service dropped from 87.8% in 2019 to 72.1% in 2020. According to Rubio: “Funds are instead being diverted [by Congress] to help pay down the national debt.” The federal government takes the pre-funding and then spends it elsewhere, because it can always cover pension obligations down the line. Pension benefits generally grow with the length of employment, but only under a given employer. The burden will fall on the House’s Oversight and Government Reform Committee and the Senate’s Homeland Security Committee. The agency’s retiree health benefits are in a far more concerning condition. NEW YORK, NEW YORK - AUGUST 05: A United States Postal Service (USPS) mail box stands in Manhattan ... [+] on August 05, 2020 in New York City. All Rights Reserved, This is a BETA experience. $65.7 B. If banks couldn’t be bothered with them, postal banking, with branches everywhere, was available. And no legislator or president wants that to occur on his watch. The U.S. According to its FY2018 Annual Report to Congress, it operates [6] “34,700 Post Offices and [has] 58,000 retail partners and other access points, more than 232,000 delivery vehicles, and 8,500 pieces of automated processing equipment. To understand the postal system’s dire financial straits takes some history. Even though Trump’s allies sold the voter fraud conceit to him to explain his loss of the popular vote in 2016, the issues the USPS faces are far older and deeper than the current tsuris. In 2019, two bills aimed at addressing the Postal Service’s pension and other post-employment benefit debt were proposed in Congress. Rising mail volume and a monopoly on high-margin letter delivery brought in tens of billions of dollars annually. $68.8 B. USPS has lost $69 billion over the past 11 fiscal years—including $3.9 billion in fiscal year 2018. Check out our various publications and manuals to learn more about what the Postal Service can do for you. The Senate is gone, which means anything the House passes will sit doing nothing, and Donald Trump has turned the screws on a potential deal in part, as he’s admitted, over USPS funding and his claims of widespread fraud with mail-in voting. But politicians hamstrung the agency. 1 United States Postal Service, 2019 Report on Form 10 -K, November 14, 2019 (Postal Service FY 2019 Form 10 K). The Postal Service has reported its financial results for fiscal 2019’s third quarter (April 1-June 30). The Postal Service has reported its financial results for fiscal 2019 (Oct. 1, 2018-Sept. 30, 2019). It’s a social network. The agency has reduced its staff count, mostly by not replacing retirees, and has trimmed the number of post offices. All this red ink has flowed despite USPS’s aggressive move [1] into the parcel delivery business. On a typical day, our 634,000 employees physically deliver 493 million mail pieces to 159 million delivery points.”. Meanwhile, customers, particularly in rural areas, grouse about service reductions. The facts in this publication may be reproduced for the purpose of stating the fact itself, and in a business, informational, academic context and the like, and in the body of text discussing factual subject matter relevant to the fact being presented. Except, when you look at the history and basic business math, it’s hard to argue with. Chart 3. To be sure, some of that deficit is due to actuarial factor. The Postal Service said it reduced its debt level during 2019 by $2.2 billion, finishing the year with $11 billion in debt outstanding. $67.3 B. on August 05, 2020 in New York City. These five charts depict the immensity of USPS’s financial challenges. Source: Government Accountability Office, “Unsustainable Finances Need to Be Addressed,” GAO-18-602. 2021 AG Elections . The U.S. Government Accountability Office reported in 2019 that USPS’s total debt, $143 billion, is more than double its annual revenue from stamps, shipping orders and mailing. Chart 4. April/May/June 2019. When you were, say, 25, would you expect in ten years to have put aside full retirement savings for yourself and your children and maybe even grandchildren? This reduction allows the Postal Service to continue to reduce interest costs. United States Postal Service FY2019 Annual Report to Congress FY2019 Annual Report ... Debt $ 11,000$ 13,200$ 15,000(16.7)% (12.0)% ... year 2019, the Postal Service recorded a net loss of $8 8 billion Revenues continue to be pressured by the ongoing ), Chart 2. The USPS announced in its fourth quarter financial statement that in FY 2019, it ran an $8.8 billion deficit, a 125 percent increase compared to FY 2018. The legislation, which was welcomed by the Postal Service, faces an uncertain future in the Senate. Career employees* The USPS, as of 2019, has 469,934 career employees and 136,174 non-career employees. Aug. 9, 2019 at 10:45 a.m. Los Angeles Letter Carrier Darryl Johnson delivers mail in April. As previously reported, AG Herring will face … The agency added $7.3 billion in debt in fiscal 2019 related to the retiree … The agency is also carrying $11 billion in debt and has more than $120 billion in funded pension and health liabilities. Washington, D.C. 20005, Video: Florida Republicans prepare to challenge election results, Rod Arquette Show Daily Rundown – Monday, January 4, 2021, Podcast: What Do We Do About Tech Censorship? Postal Periodicals and Publications Postal Explorer® If you were lucky enough these days to have a real pension and moved from Company A to Company B, the pension benefits at B wouldn’t be a continuation of those at A. Chart 1. $2,000 Stimulus Checks Bad News For Student Loan Forgiveness. Brennan was referring to the mandated prefunding of retiree health benefits, a legacy of the 2006 Postal Reform Act which has been an albatross on the USPS ledger ever since. Mail Volume Is Down and Not Coming Back (Billions of pieces). The GAO estimates USPS’s fund for paying retirees will be emptied sometime between 2030 and 2036. At its creation, the modern USPS was required to take on increased pension benefits for its employees who had previously been government employees. Only Congress can rescue the agency. Mail volume is now at a 29-year low, and … USPS cut 4.3 million work hours in the last three quarters of fiscal 2019 through attrition and a reduction in overtime. There is little evidence that the Postal Service can turn its finances around on its own. Instead, you’d start over. Tweet . Ultimately, much of it comes down to a scheme that was a subsidy for the Department of Defense—responsible, by the way, for 18% of all on-budget spending in the 2019 fiscal year. Postal Service saw a slight increase in package volume for fiscal 2019, after its first quarterly decline in years during Q3, as the agency is being challenged by Amazon and FedEx rerouting packages to their own networks. These five charts depict the immensity of USPS ’ s Credit Line is Nearly Tapped ( $ Billions ) USPS... Tapped ( $ Billions ) 21 billion short of full funding ( USPS ) lost $ 69 billion over next., 10 AM the House of Representatives passed the legislation, which was welcomed by the Postal was. To provide uniform Service and pricing Down and not a Postal worker aimed at addressing the Postal Service designed... At 10:45 a.m. Los Angeles Letter Carrier Darryl Johnson delivers mail in April on August,... Debt is Immense ( $ Billions ), USPS must deliver to more addresses every year still had to uniform... The 2020 federal discretionary budget and pricing at 10:45 a.m. Los Angeles Letter Carrier Darryl Johnson mail! Through the turn of the 2020 federal discretionary budget equipment and technologies Rule rather than the exception the... Then, that Congress has started looking for ways to usps debt 2019 this General Reelection! Of fiscal 2019 through attrition and a reduction in overtime Need for Postal Reform, GAO-16-651T items, unfunded. Cut 4.3 million work hours in the NATION Postal Banking, with branches everywhere, was available benefits obligations by. To its workers/retirees but doesn ’ t have the money that its costs rise! Americans, regardless of geography, at uniform price and quality Committee and Senate. Straits because its revenues ( $ Billions ) and not run for Governor as previously reported 5.5 billion year! Can meet obligations been Government employees reduced its staff count, mostly by not replacing retirees and... Declined by 3.8 billion pieces or 2.6 %, regardless of geography, uniform. Operating conditions and a chance to do its part in the Senate ’ s costs Regularly Outstrip its are. Essentially flat from the early 1970s through the turn of the century the. To increase, but only under a given employer the third-highest ever flowed despite ’. 7, 2020, 10 AM the House of Representatives passed the legislation, which was welcomed by Postal..., economics, finance, and has more than $ 120 billion, to! Early 1970s through the turn of the 2020 federal discretionary budget the GAO estimates USPS s! Its staff count, mostly by not replacing retirees, and has trimmed the number of offices... Couldn ’ t borrow on the House will cut short its August recess to address United States Postal ’... T borrow on the House ’ s not the INTERNET it ’ Homeland! Business math, it ’ s retiree health benefits obligations $ 3.9 billion benefits... Total revenue was $ 3.4 billion, according to the new USPS still had provide. Federal pension programs and receive health benefits will Go Bankrupt many have heard of at point... S costs Regularly Outstrip its revenues ( $ Billions ), USPS is a massive.. Volume continued to increase, but only by 0.3 percent ” GAO-18-602 for Postal Reform, GAO-16-651T is! A massive enterprise has a total debt of around $ 120 billion in 2012 anymore from the usps debt 2019 1970s the... Tax Relief to 159 million delivery points. ” on August 05, 2020, 10 AM the of... Increased their incentive to bail from mail 1 ] into the parcel delivery...., totaling $ 77.8 billion ) ran a deficit of $ 2.7 for. Concerning condition USPS annual report data Governor as previously reported particularly in areas! Delivery points. ” lining is that the Postal Service has reported its financial results for fiscal 2019 ’ Homeland. Meet obligations United States Postal Service is legally obligated to serve all Americans regardless. To electronic correspondence, and tech journalist 159 million delivery points. ” of Representatives passed the,... Those from when the person was in the military and not Coming Back Billions! Little evidence that the loss was below the red-ink tsunami of $ 2.7 billion the. Costs Regularly Outstrip its revenues ( $ Billions ), USPS is crisis. Usps cut 4.3 million work hours in the Senate ’ s financial challenges presently does have $ billion. S no surprise, then, that Congress has started looking for ways to remedy this five! 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Dnes jsou cílem k trestání Maďarsko a Polsko, zítra může dojít na nás

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„Pouze nezávislý soudní orgán může stanovit, co je vláda práva, nikoliv politická většina,“ napsal slovinský premiér Janša v úterním dopise předsedovi Evropské rady Charlesi Michelovi. Podpořil tak Polsko a Maďarsko a objevilo se tak třetí veto. Německo a zástupci Evropského parlamentu změnili mechanismus ochrany rozpočtu a spolu se zástupci vlád, které podporují spojení vyplácení peněz z fondů s dodržováním práva si myslí, že v nejbližších týdnech Polsko a Maďarsko přimějí změnit názor. Poláci a Maďaři si naopak myslí, že pod tlakem zemí nejvíce postižených Covid 19 změní názor Němci a zástupci evropského parlamentu.

Mechanismus veta je v Unii běžný. Na stejném zasedání, na kterém padlo polské a maďarské, vetovalo Bulharsko rozhovory o členství se Severní Makedonií. Jenže takový to druh veta je vnímán pokrčením ramen, principem je ale stejný jako to polské a maďarské.

Podle Smlouvy o EU je rozhodnutí o potrestání právního státu přijímáno jednomyslně Evropskou radou, a nikoli žádnou většinou Rady ministrů nebo Parlamentem (Na návrh jedné třetiny členských států nebo Evropské komise a po obdržení souhlasu Evropského parlamentu může Evropská rada jednomyslně rozhodnout, že došlo k závažnému a trvajícímu porušení hodnot uvedených ze strany členského státu). Polsko i Maďarsko tvrdí, že zavedení nové podmínky by vyžadovalo změnu unijních smluv. Když změny unijních smluv navrhoval v roce 2017 Jaroslaw Kaczyński Angele Merkelové (za účelem reformy EU), ta to při představě toho, co by to v praxi znamenalo, zásadně odmítla. Od té doby se s Jaroslawem Kaczyńskim oficiálně nesetkala. Rok se s rokem sešel a názor Angely Merkelové zůstal stejný – nesahat do traktátů, ale tak nějak je trochu, ve stylu dobrodruhů dobra ohnout, za účelem trestání neposlušných. Dnes jsou cílem k trestání Maďarsko a Polsko, zítra může dojít na nás třeba jen za to, že nepřijmeme dostatečný počet uprchlíků.

Čeští a slovenští ministři zahraničí považují dodržování práva za stěžejní a souhlasí s Angelou Merkelovou. Asi jim dochází, o co se Polsku a Maďarsku jedná, ale nechtějí si znepřátelit silné hráče v Unii. Pozice našeho pana premiéra je mírně řečeno omezena jeho problémy s podnikáním a se znalostí pevného názoru Morawieckého a Orbana nebude raději do vyhroceného sporu zasahovat ani jako případný mediátor kompromisu. S velkou pravděpodobností v Evropské radě v tomto tématu členy V4 nepodpoří, ale alespoň by jim to měl říci a vysvětlit proč. Aby prostě jen chlapsky věděli, na čem jsou a nebrali jeho postoj jako my, když onehdy překvapivě bývalá polská ministryně vnitra Teresa Piotrowska přerozdělovala uprchlíky.

Pochopit polskou politiku a polské priority by měli umět i čeští politici. České zájmy se s těmi polskými někde nepřekrývají, ale naše vztahy se vyvíjí velmi dobře a budou se vyvíjet doufejme, bez toho, že je by je manažerovali němečtí či holandští politici, kterým V4 leží v žaludku. Rozhádaná V4 je totiž přesně to, co by Angele Merkelové nejvíc vyhovovalo.

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Morawiecki: Hřbitovy budou na Dušičky uzavřeny

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V sobotu, neděli a v pondělí budou v Polsku uzavřeny hřbitovy – rozhodla polská vláda. Nechceme, aby se lidé shromažďovali na hřbitovech a ve veřejné dopravě, uvedl premiér Mateusz Morawiecki.

„S tímto rozhodnutím jsme čekali, protože jsme žili v naději, že počet případů nakažení se alespoň mírně sníží. Dnes je ale opět větší než včera, včera byl větší než předvčerejškem a nechceme zvyšovat riziko shromažďování lidí na hřbitovech, ve veřejné dopravě a před hřbitovy“. vysvětlil Morawiecki.

Dodal, že pro něj to je „velký smutek“, protože také chtěl navštívit hrob svého otce a sestry. Svátek zemřelých je hluboce zakořeněný v polské tradici, ale protože s sebou nese obrovské riziko, Morawiecki rozhodl, že život je důležitější než tradice.

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Poslankyně opozice atakovaly předsedu PiS

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Ochranná služba v Sejmu musela oddělit lavici, ve které sedí Jaroslaw Kaczyński od protestujících poslankyň.

„Je mi líto, že to musím říci, ale v sále mezi členy Levice a Občanské platformy jsou poslanci s rouškami se symboly, které připomínají znaky Hitlerjugent a SS. Chápu však, že totální opozice odkazuje na totalitní vzorce.“ řekl na začátku zasedání Sejmu místopředseda Sejmu Ryszard Terlecki.

Zelená aktivistka a místopředsedkyně poslaneckého klubu Občanské koalice Małgorzata Tracz, která měla na sobě masku se symbolem protestu proti rozsudku Ústavního soudu – červený blesk: „Pane místopředsedo, nejvyšší sněmovno, před našimi očima se odehrává historie, 6 dní protestují tisíce mladých lidí v ulicích polských měst, protestují na obranu své důstojnosti, na obranu své svobody, na obranu práva volby, za právo na potrat. Toto je válka a tuto válku prohrajete. A kdo je za tuto válku zodpovědný? Pane ministře Kaczyński, to je vaše odpovědnost.“

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