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The Financial Death Spiral Of The United States Postal Service Unless
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Book Synopsis The Financial Death Spiral of the United States Postal Service ...Unless? by : Grady E Griffin
Download or read book The Financial Death Spiral of the United States Postal Service ...Unless? written by Grady E Griffin and published by Lulu.com. This book was released on 2015-12-23 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Grady E. Griffin knows all too well that the United States Postal Service is on the verge of financial collapse. It continues to lose billions of dollars per year, and it has reached its maximum federal borrowing limit of $15 billion. Meanwhile, total liabilities are approaching $100 billion. Griffin, who worked for the Postal Service in numerous roles, proposes common-sense solutions to the Postal Service's most pressing problems. These solutions and other fixes are popular among working-level employees, but many managers, union officials, labor specialists, contract compliance officials, advocates for grievances, and arbitrators who make a living off interpreting complicated contracts continue to oppose them for selfish reasons. Tens of thousands of jobs are at stake, and a valuable service that the public relies on could be eliminated forever unless stakeholders overhaul the Postal Service.
Book Synopsis The Financial Death Spiral of the United States Postal Service ...Unless? by : Grady E Griffin
Download or read book The Financial Death Spiral of the United States Postal Service ...Unless? written by Grady E Griffin and published by Lulu.com. This book was released on 2015-12-23 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Grady E. Griffin knows all too well that the United States Postal Service is on the verge of financial collapse. It continues to lose billions of dollars per year, and it has reached its maximum federal borrowing limit of $15 billion. Meanwhile, total liabilities are approaching $100 billion. Griffin, who worked for the Postal Service in numerous roles, proposes common-sense solutions to the Postal Service's most pressing problems. These solutions and other fixes are popular among working-level employees, but many managers, union officials, labor specialists, contract compliance officials, advocates for grievances, and arbitrators who make a living off interpreting complicated contracts continue to oppose them for selfish reasons. Tens of thousands of jobs are at stake, and a valuable service that the public relies on could be eliminated forever unless stakeholders overhaul the Postal Service.
Book Synopsis U. S. Postal Service by : United States Government Accountability Office
Download or read book U. S. Postal Service written by United States Government Accountability Office and published by . This book was released on 2013-01-16 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Postal Service Retiree Health Benefits Fund (PSRHBF) covered about 49 percent of the U.S. Postal Service's (USPS) $94 billion retiree health benefit liability at fiscal year-end 2012. USPS's deteriorating financial outlook, however, will make it difficult to continue the current prefunding schedule in the short term, and possibly to fully fund the remaining $48 billion unfunded liability over the remaining 44 years of the schedule on which the 2006 Postal Accountability and Enhancement Act (PAEA) was based. The liability covers the projected benefits for about 471,000 current postal retirees and a portion of the projected benefits for about 528,000 current employees; it does not cover employees not yet hired. Under PAEA, USPS is responsible for contributing an additional $33.9 billion to the PSRHBF by fiscal year 2017, including the $11.1 billion USPS has defaulted on over the past 2 years. PAEA also requires the Office of Personnel Management (OPM) to calculate the remaining unfunded liability in 2017 and develop an initial 40-year amortization payment schedule. USPS, however, projects further declines in mail volume and revenues that may continue to limit its ability to prefund the remaining retiree health benefit liability.GAO's analysis of maintaining current law requirements compared to five alternative approaches showed differing impacts on USPS's future annual payments and unfunded liabilities. For example, three of the approaches--1) the Administration's Approach, 2) Senate Bill (S. 1789) and 3) "Pay-as-You-Go" (no prefunding)--would reduce USPS's annual payments in the short term, thereby easing its immediate cash flow problems and financial losses. However, these approaches would increase USPS's unfunded liability, sometimes substantially, and require larger payments later. Deferring funding could increase costs for future ratepayers and increase the possibility that USPS may not be able to pay for some or all of its liability. Conversely, a fourth approach--the House Bill (H.R. 2309)--and the current law requirement would reduce USPS's unfunded liabilities more aggressively but may result in significantly higher USPS financial losses in the near future. If USPS stopped prefunding and let the existing fund grow with interest, the unfunded liability is projected to significantly increase. Under a fifth approach, if USPS stopped prefunding and used the existing fund to pay current and future premiums, the fund is projected to be exhausted by 2026. Private sector, state, local, and other federal entities are not required to prefund these benefits, though some do so to a limited extent, and most are required to recognize the future costs in their financial reporting.GAO identified several key considerations including: (1) the rationale and consequences of prefunding such benefits; (2) trade-offs affecting USPS's financial condition, such as sizes of the annual payments and unfunded liability; (3) fixed versus actuarially determined payments; (4) targeted funding levels; and (5) assumption criteria. USPS is intended to be a self-sustaining entity funded almost entirely by postal ratepayers, but its financial losses are challenging its sustainability. GAO has testified that USPS should prefund its retiree health benefit liabilities to the maximum extent that its finances permit, but none of the funding approaches may be viable unless USPS has the ability to make the payments. USPS's default on its last two required PSRHBF payments and its inability to borrow further make the need for a comprehensive package of actions to achieve sustainable financial viability even more urgent.
Download or read book The Postal Record written by and published by . This book was released on 1918 with total page 770 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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Book Synopsis Congressional Record by : United States. Congress
Download or read book Congressional Record written by United States. Congress and published by . This book was released on 2005 with total page 1104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
Download or read book CQ Almanac Plus written by Jan Austin and published by . This book was released on 2005-07 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: CQ Almanac Plus gives you an in-depth look at the major bills of the second session of the 108th Congress, including the landmark overhaul of the nation's intelligence community and the failed attempt to update the nation's main highway law. The book also details the year's two big tax bills - for businesses and for middle-class families, along with the 13 appropriations bills, of which were enacted by the end of the session for the first time in three years. This year's edition also has a special section on the 2001 elections, with summaries of the presidential and congressional races and complete, official returns for every congressional district in the country. Each of the more than 80 legistative histories contains a detailed adescription of the bill, a behind-the-scene look at how it was shaped and its status at the end of 2004. CQ Almanac Plus also gives you the following: Key Votes Vote Studies All roll-call votes Public Laws
Download or read book Moore's Rural New-Yorker written by and published by . This book was released on 1888 with total page 874 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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Book Synopsis Federal Regulatory Directory, 12th Edition by : Kenneth Jost
Download or read book Federal Regulatory Directory, 12th Edition written by Kenneth Jost and published by CQ Press. This book was released on 2005-12-21 with total page 826 pages. Available in PDF, EPUB and Kindle. Book excerpt: For more than 25 years the Federal Regulatory Directory has been the go-to guide for anyone looking for the most authoritative, thorough, and efficient source of key information on agencies and regulations that shape lives, policies, businesses, and government in the United States. The twelfth edition continues this strong tradition by offering the most current agency and regulation information, including up-to-date coverage of key recent changes in staff and agency structures. Book jacket.
Download or read book CQ Weekly written by and published by . This book was released on 2005 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Officers' Report by : National Association of Letter Carriers (U.S.)
Download or read book Officers' Report written by National Association of Letter Carriers (U.S.) and published by . This book was released on 1998 with total page 854 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book The American Economic Review written by and published by . This book was released on 2002 with total page 1014 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Leaders written by and published by . This book was released on 1996 with total page 1192 pages. Available in PDF, EPUB and Kindle. Book excerpt: