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Jul 07

U.S. Postal Service has lost more than $50 billion

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Since 2007 the U.S. Postal Service has lost more than $50 billion. Its unfunded liabilities for its employees’ extravegent retirement benefits are nearly $100 billion.

This despite having every advantage in the market place. Paying no taxes (property or income); being able to keep out competition; eminent domain; prestige locations, etc.

Rural Post Offices are maintained open even though the bottom 4,500 rural locations average just 4.4 customer visits a day.

Postal workers are so overpaid that HUNDREDS OR EVEN THOUSANDS of people apply for every job opening.

Other, “socialist,” countries such as the Netherlands have fully privatized their systems and opened them to competition.