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USPS Threatens Health Pension Default


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Anyone remember my commentary about a year ago regarding pension plans - including public pensions - being in serious trouble and ultimately being at risk of insolvency?

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Weeeeeelllllll?

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What happens when you have no money coming in but still have obligations going out? Specifically in this case, pension obligations regarding health care benefits for retired Postal Workers?

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Gee, I wonder if the Obama Administration's push to put everyone into a situation where they can obtain Medicare might be related to this? Perhaps - just perhaps - this is one way they can stave off the implosion of one of the more-important public-sector benefit groups?

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Perhaps.

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By the way, USPS is reporting a 13% reduction in mailed volume, and I'm willing to bet that a huge part of that is from bulk (junk) mailers who have had their business implode or simply have had to slash marketing budgets. Less junk mail, less revenue, and with a bloated bureaucracy you can guess what comes next.

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http://networkedblogs.com/p8922741?ref=nf

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