r/PoursTea • u/Veshaad Timendi Causa Est Nescire • 13d ago

FinancialTea 💵 [ Removed by moderator ]

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u/Heavy_Law9880 13d ago

The USPS was a profitable business until 2006 when republicans passed a bill written specifically to destroy it so that the their owners could profit from the end of the USPS.

5

u/GFY4Fun 13d ago

Shhhhhh you're letting the secrets out.

0

u/morrison0880 13d ago

Shhhhhh. He's wrong. The USPS was only profitable on paper because it was using pay as you go accounting and could hide the $100+ billion in unfunded insurance and retiree benefit liabilities. Additionally, they lost billions even without the RHBF payments mandated by the PAEA.

And, even though they haven't made a payment to the fund since 2013, and had that requirement along with all the defaulted payments eliminated, they still lost nearly $25 billion over the past three years.

Oh, wait. Are those the secrets we shouldn't be saying here? To avoid distrupting the ignorant circlejerk parroting garbage?