How The U.S. Postal Service Fell Into A Financial Black Hole

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CNBC

CNBC

3 роки тому

If the United States Postal Service was a private business, it would have ranked 44th on the 2019 Forbes 500 list. It also hires more than 600,000 employees, third to Amazon and Walmart. But it’s a public service. That means its goal isn’t to meet its bottom line, but to fulfill its duty to provide affordable and reliable mail service in the U.S. So how did USPS’s finances come into the spotlight and why is it in the red?
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How The U.S. Postal Service Fell Into A Financial Blackhole

КОМЕНТАРІ: 1 000
@wiicodman
@wiicodman 3 роки тому
If the Postal Service is in a financial black hole, the Department of Defense is a supermassive black hole losing hundred of billions of dollars per year.
@Scarsofevil
@Scarsofevil 3 роки тому
It's amazing how Defense gets so much funding and they can't even take care of the Vets.
@3ric585
@3ric585 3 роки тому
DoD doesn't lose money because they rake in a lot of the drig cartels' money plus your tax dollars that are supposed to go on ficing your roads.
@MrYoung11
@MrYoung11 3 роки тому
I was just thinking that. Like how many guns do we need? Cut that defense budget & send that money to the post office & back to the ppl
@JD-my5ek
@JD-my5ek 3 роки тому
@@MrYoung11 In general you get a way more massive return on defense funding than the postal service. The tech development and skills development that come out of the defense industry tend to drive a lot of GDP growth in the future whereas the postal service would not
@corey725
@corey725 3 роки тому
@@JD-my5ek Source? We spend an ridiculous amount on defense, more then any country in the world. I sincerely doubt it's profitable by any stretch.
@aterfelis4708
@aterfelis4708 3 роки тому
It has a broken business model because it's not a business. It's a service. When was the last time the Department of Transportation, Department of Education, or Department of Veterans Affairs was asked to turn a profit or even be "self-sustaining"?
@n3wt
@n3wt 3 роки тому
reddit.com/r/darknet needs usps to survive
@nickoshana2246
@nickoshana2246 3 роки тому
Bingo! So true. What other Company/Agency plans for Future Expenses instead of "looking for funds at the last minute? Congress? Senate? Here s the Only entity that really try to keep customer costs in place!
@bftjoe
@bftjoe 3 роки тому
Imagine calling the Junk Mail delivery service a positive contribution to society.
@aterfelis4708
@aterfelis4708 3 роки тому
@@bftjoe Well, no one could mistake you for a positive contribution to society.
@bftjoe
@bftjoe 3 роки тому
@@Theactualstoic You realize that the Post Office gets to determine how much other carriers MUST charge to deliver letters, right? What a load of bullocks. So any business that is loses money ever isn't a business? Guess I learned something new today!
@Halljand
@Halljand 3 роки тому
Business model? It’s not a business. It’s a public service. It just needs to break even. Part of that issue is pre-funding obligations 75 years in advance. Who else does Congress require to do that? Nobody.
@Entrantress
@Entrantress 3 роки тому
@andrejagreen should we also not fund getting the nostalgic old woman her healthcare delivered?
@Entrantress
@Entrantress 3 роки тому
@@diamondwave100 you're gonna lose it when you hear about defense contracts.
@Entrantress
@Entrantress 3 роки тому
@@diamondwave100 I completely agree! I'm happy we're on the same page. #cutthedefensebudget
@Roxor128
@Roxor128 3 роки тому
@Xeno Phon Yeah, and then once it gets privatised, it gets run even worse.
@JJ-wr7dc
@JJ-wr7dc 3 роки тому
If you got rid of the post office. It'd destroy a big part of the middle class. It isnt the workers fault for how it is ran. It can be fixed and needs to evolve.
@puellanivis
@puellanivis 3 роки тому
How can you start with “the USPS loses billions a year” and not in the same breath also mention that Congress required them to cover the pensions of future retired workers for 75 years ahead of time?
@padmeskywalker186
@padmeskywalker186 3 роки тому
puellanivis they did mention that
@bftjoe
@bftjoe 3 роки тому
Imagine not watching a video and then claiming it doesn't mention something it clearly does.
@BabeTryThis
@BabeTryThis 3 роки тому
Secured job leads to less productive and innovative.
@puellanivis
@puellanivis 3 роки тому
@@padmeskywalker186 “and not in the same breath”
@puellanivis
@puellanivis 3 роки тому
@@bftjoe “and not in the same breath”
@juanaguilar7458
@juanaguilar7458 3 роки тому
I saw this funny comment on a headline that said "USPS loses x billion dollars every year", someone was like "It's a service, you don't see a headline that says 'US Army Loses x billion dollars every year'"
@gwaiwohng2181
@gwaiwohng2181 3 роки тому
USPS is poster child for government waste and inefficiency of taxpayer dollars. Meanwhile, UPS, DHL and FedEx have no problem making a profit.
@stefanbraem
@stefanbraem 3 роки тому
Gwai Wohng yeah, while offering abysmal working conditions, extreme inequality and no financial security for workers. Is that your utopia of a society?
@davidbang4731
@davidbang4731 3 роки тому
@@gwaiwohng2181 Try sending First-Class mail via UPS/DHL/FedEx and show us how much it costs.
@johncaro2485
@johncaro2485 3 роки тому
@@gwaiwohng2181 If the Post Office charged the same rates as them it would put my ETSY business OUT OF BUSINESS. The Post Office is a SERVICE.
@bftjoe
@bftjoe 3 роки тому
@@davidbang4731 You mean compare prices that are artificially inflated due to laws protecting the post office? Great logic.
@randallarthur6821
@randallarthur6821 3 роки тому
The USPS isn't a business. People need to understand this. It is a service.
@j.lizbardo
@j.lizbardo 3 роки тому
Please read what you wrote, again.
@JoaoPedro-gc8mw
@JoaoPedro-gc8mw 3 роки тому
@@j.lizbardo Is there any typo or grammar error in it? Because I can't see it. If you mean the content of what he said, well, that is nothing radical. If is the post office as a public service (just like policing and public schools), than it is not even meant to be profitable, it is meant to service all. Most people are not calling for privatizing policing because it is not profitable.
@kaynickerson6138
@kaynickerson6138 3 роки тому
USPS is in our constitution. It is our right and necessary. DEJOY is trying to destroy it. If they need to raise first class mail rates they should do that but keep 📫 working.
@jameshurley224
@jameshurley224 3 роки тому
Not anymore its been gutted to a corpse
@KevinSmith-qi5yn
@KevinSmith-qi5yn 3 роки тому
A service is a business. What you meant was an obligation.
@beebeejoo
@beebeejoo 3 роки тому
The thumbnail title for this video is: "The Post Office's Broken Business Model." That's like making a video titled "Your local library's broken business model" or "The broken business model of the roads and highways we all pay for."
@puellanivis
@puellanivis 3 роки тому
@Master Chief The USPS is required to fun pensions for people who are not even working for them yet. And cannot raise prices to stay competitive. The USPS doesn’t work because the US has bound and gagged it, and then called up to its boss to report it missing from work.
@aterfelis4708
@aterfelis4708 3 роки тому
@Master Chief Your argument is well thought-out and convincing. You must do this for a living.
@aterfelis4708
@aterfelis4708 3 роки тому
@Master Chief Are you saying that the Postal Service... never existed?
@aterfelis4708
@aterfelis4708 3 роки тому
@Master Chief It's all a conspiracy. Maybe the United States of America never existed either.
@Mechahamsters
@Mechahamsters 3 роки тому
@Master Chief The Prefunding mandate is from the 2006 Postal Accountability and Enhancement Act.
@amaurilol2
@amaurilol2 3 роки тому
Why are they talking about the USPS as a business? The post office is not a business, it's service to the American people.
@stefanbraem
@stefanbraem 3 роки тому
Because politicians don’t understand that difference anymore, since they don’t need to ($$$)
@gwaiwohng2181
@gwaiwohng2181 3 роки тому
Somebody has to foot the bill. Taxpayers are tired of the Democrats 70% tax idea. USPS is poster child for government waste and inefficiency of taxpayer dollars. Meanwhile, UPS, DHL and FedEx have no problem making a profit.
@davidbang4731
@davidbang4731 3 роки тому
@@gwaiwohng2181 Try sending First-Class mail via UPS/DHL/FedEx and show us how much it costs.
@bftjoe
@bftjoe 3 роки тому
@@davidbang4731 That's because of government regulations that protect the post office monopoly on first class mail.
@colin1818
@colin1818 3 роки тому
Because when they didn't run it like a business it was a blank check that wasn't taking care of its obligations. Did you not watch the video? They weren't funding their pension obligations and just passing that massive bill onto the taxpayers to figure out. They mismanaged themselves and needed to stop.
@bullacademy
@bullacademy 3 роки тому
The postal service is not a business ...
@Surrey360
@Surrey360 3 роки тому
Should be self reliant like other countries
@LargeDude2023
@LargeDude2023 3 роки тому
The post office is not a business. Government agencies are designed for the public good and not to generate profits. Public transportation is subsidized as well as entire states. Even for profit entities like airlines are subsidized by taxpayers. We have the best mail system in the world for a reason.
@pavelimani
@pavelimani 3 роки тому
Best mail system? USPS routinely loses my packages and letters. UPS and Fedex have never lost any of my packages (I am a heavy user of both). USPS's customer service is nonexistent. USPS should die. It is utterly useless.
@jermainec2462
@jermainec2462 3 роки тому
@@pavelimani 🤔🙄🙄
@3089280288
@3089280288 3 роки тому
@@pavelimani Screw UPS. I dont use them as I never know when the hell they show up and Im not going to wait all damm day for them to show only to have to drive to pick it up my self. The USPS also supports small business as contractors.
@KevinSmith-qi5yn
@KevinSmith-qi5yn 3 роки тому
There are several agencies that self fund like the FCC. What we want is the best the postal service. That means it has to transform the way it operates, and treating it like a business tends to provide better results. There are certain sectors we have funded publicly, but don't allow change and their results flounder while costing more. Take for instance public education that just came out of a decade of failure. It wasn't until private companies entered the market of education that they finally improved like for poor black kids in cities.
@LargeDude2023
@LargeDude2023 3 роки тому
@@pavelimani You should try using mail systems in other countries to better understand what we have here. Nothing is perfect.
@devontorres6449
@devontorres6449 3 роки тому
The postal service is labeled a “public service” and is labeled as such like the police force, firefighters, corrections etc. it is a government entity for the people and it is written in the constitution for that purpose so that citizens could have access to mailing across the US. It has been looked at as a private entity because leaders have forgotten it is an American right due to its constitutional origin. Due to this such a service just needs to break even to be honest. Even if it does not this does not matter. People just can’t sink in the idea that it’s not meant to be profitable but deliver service to the American people at every address as a constitutional right of service almost like a perk. The Government set restrictions as if it was completely a non profit government entity but expects it to run privately. That’s the biggest problem and why it’s NOT profitable IF profit is what you’re looking at.
@yuridavila6095
@yuridavila6095 3 роки тому
The postal clause of the constitution merely grants congress the right to establish a post office and it's routes. It does not make the service a constitutionally guaranteed right. It would be a bit tedious to explain constitutional law to you and explain exactly what this postal clause means and why it was necessary but in summary, unless a power is specifically in the constitution granted to the federal government then it's a power of the states, so the federal government cannot establish any post offices without the constitution granting it this authority. This includes things like seizing land for the postal purposes, with compensation of course, much like forced purchases made for infrastructure like new or wider roads. Also the postal clause only means postal service "can" be established not "shall be" established, meaning it's not a guarantee. Congress can completely shut down the postal service should they vote on doing so.
@TheOfficialZombieWhisperer
@TheOfficialZombieWhisperer 3 роки тому
The government should pay for the majority of it and don't they realize that all government money comes from taxes we pay, it's crazy, I am okay with my taxes being used for the postal service.
@devontorres6449
@devontorres6449 3 роки тому
@@yuridavila6095 if you look at the postal infrastructure and how the government controls it then you would get a better understanding that it is a guaranteed right through past time and present interest. They have EVERY single address recorded like it or not. They USE that info and it is sold off. Ever wonder if you got mail for something or someone you never knew about or ever had contact with. It’s guaranteed in the sense that the information of every address is there and it will be used for personal, business or government use. Gotta look past face value in written law and see how deep the routes go between government and the post office. I understand the law for the post office but like anything else it’s about the use not so much of what is written, thousands of examples of written laws that are not taken literally but bent to other parties favor. The reality is that every address is guaranteed service by usps
@n3wt
@n3wt 3 роки тому
reddit.com/r/darknet needs usps to survive !
@TheOfficialZombieWhisperer
@TheOfficialZombieWhisperer 3 роки тому
@@n3wt darknet um conspiracy monger here.
@Private-GtngxNMBKvYzXyPq
@Private-GtngxNMBKvYzXyPq 3 роки тому
The retirement pre-funding requirement is unlike any business. Any fair comparison would require FedEx, UPS, and others to do the same, as well as requiring them to also deliver to every US address like the USPS. Fix the pre-funding mistake and add community banking and the USPS will be fine. Privatization would be a crime.
@gevdarg
@gevdarg 3 роки тому
Amen. The pre-funding requirement is ridiculous and the community banking would be a boon.
@Private-GtngxNMBKvYzXyPq
@Private-GtngxNMBKvYzXyPq 3 роки тому
The economy was best when the middle class was making livable wages because unions were strong. There’s also nothing wrong with defined benefit plans. What’s wrong is expecting the USPS to prefund so many years ahead beyond anything reasonable. Unions are not the problem, Congress is.
@Private-GtngxNMBKvYzXyPq
@Private-GtngxNMBKvYzXyPq 3 роки тому
It is disingenuous at best to suggest the unions are in any way responsible for the insane pre-funding law to begin with (they were not), and the postal workers union still opposes it. apwu.org/news/urgent-weve-reached-house-now-lets-take-senate
@bftjoe
@bftjoe 3 роки тому
What business offers defined benefits and retiree health care again? More insane logic from crazy Democraps!
@Private-GtngxNMBKvYzXyPq
@Private-GtngxNMBKvYzXyPq 3 роки тому
It doesn’t matter what FDR said; he was incorrect in this case. Anyway, appeal to authority is a logical fallacy. And name calling? The last resort of those with weak arguments. The truth is the intent was to use the money to cover the deficit, which is hardly beneficial to the postal workers in the short run. The postal service is funded by postage, but if the federal government borrows money it costs taxpayers. So this whole scheme is just irresponsible nonsense and it’s time to get rid of the ridiculous requirement to pre-fund an unreasonable number of years into the future.
@kyletrusler4565
@kyletrusler4565 3 роки тому
Rather disappointed that they failed to mention why the USPS has these looming obligations and the severe restrictions that have been placed on them. The USPS is the only company, by law, to Pre-fund the retirement health benefits to the year 2056 leading to over 5 billion in payments as included in the Congressional bill: H.R. 6407 (109th): Postal Accountability and Enhancement Act. This requirement, in addition to the restrictions on the sources of revenue USPS can pursue to the limitations of eliminating unprofitable delivery routes, regulated a once profitable company to be in the red. Privatization wont work and isnt the answer. Dont even get me started with Louis Dejoy...
@bftjoe
@bftjoe 3 роки тому
Sure but lets get rid of the government granted monopoly on first class mail and then you can talk about how profitable the post office was. Do you even know what happened to Lysander Spooner?
@bftjoe
@bftjoe 3 роки тому
@@dutchbakery2195 Yes because the government forbids real businesses from competing, can you read?
@chrisandrews414
@chrisandrews414 3 роки тому
thank you internet denizen, I've been waiting for them to hit on this the entire time, but not a word.
@bftjoe
@bftjoe 3 роки тому
@@dutchbakery2195 Lower delivery prices, customers benefit. It's not like all the other countries which don't have a government mail monopoly suddenly collapsed. And why is the Postal Service a good thing in and of itself? Is the Postal Service your God or something?
@bftjoe
@bftjoe 3 роки тому
@@dutchbakery2195 Are you dense? It's cheaper because that's the law. Do you have a low double digit IQ? Oh somehow something is a public service in one country and HAS to be that way, but isn't in other countries. Got it, great logic. If FedEx or UPS charged low prices for letters they would get put put of business by the official mafia like what happened to Lysander Spooner.
@hrushipatel8844
@hrushipatel8844 3 роки тому
It didn't fell into a financial black hole. It was pushed in it.
@aterfelis4708
@aterfelis4708 3 роки тому
He didn't fall, he was pushed.
@bftjoe
@bftjoe 3 роки тому
Yes by giving overly generous retirement benefits to the workers unions.
@aterfelis4708
@aterfelis4708 3 роки тому
@@bftjoe No, with H.R. 6407 Title 8 Section 803. I'd provide a link or the text, but can't imagine you taking time to read it.
@ShidaiTaino
@ShidaiTaino 3 роки тому
Joseph Huang you don’t need to plan for 50 year pensions right now. No other union asks for this aside from police unions
@bftjoe
@bftjoe 3 роки тому
@@ShidaiTaino Yes instead they should just not fund pensions at all like they were doing before.
@diazbeast
@diazbeast 3 роки тому
Dam y’all really hate your mailman/woman. The post office is essential to many Americans. Keep in mind that just because you live in a city and are computer savvy, doesn’t mean that everyone else is. There are a lot of folks who depend on having their mail delivered. Also they provide jobs
@bftjoe
@bftjoe 3 роки тому
Yes any job that makes me feel good and I unilaterally decide is "essential" should exist now and until the end of time!
@utterbullspit
@utterbullspit Рік тому
@@bftjoe The Postal Service was established in the Constitution. It would take an act of Congress to get rid of it or privatize it.
@bftjoe
@bftjoe Рік тому
@@utterbullspit No, the Constitution gives congress the power to establish a post office, not the requirement to. You have a very poor understanding of English and the Constitution if you believe otherwise.
@trizzoy0069
@trizzoy0069 3 роки тому
It’s not a business, it’s a service. Not required to make money. It’s supposed to give people access to affordable communication.
@fredchung9300
@fredchung9300 3 роки тому
In Canada we switched away from door to door and have pick up super boxes. There was an outcry but now it’s accepted. It saved a lot of money and a good reason to take a walk.
@superalexgo
@superalexgo 3 роки тому
THE [clap] POST [clap] OFFICE [clap] ISN'T [clap] A BUSINESS [clap]. Even in the description it says "IF the USPS was a private business", the IF is necessary because it's NOT a private business, it's a public service, and the American people rely on it.
@dragonskunkstudio7582
@dragonskunkstudio7582 3 роки тому
I agree [minus the claps] it's like saying the military is a business that loses billions every year.
@kentmorton2872
@kentmorton2872 3 роки тому
When has the military turned a profit? The forestry SERVICE, internal revenue SERVICE, the FBI, AFT,FCC,FAA ,secret SERVICE, ect. None of which are in the constitution.
@Magicgathers
@Magicgathers 3 роки тому
Good thing it’s not the Americans running it down but the Businesses.
@andrepoghosyan8269
@andrepoghosyan8269 2 роки тому
Ever heard of email? I don’t understand your first sentence or two because of all the “claps” you wrote, but there is no point to the USPS. FedEx and UPS deliver packages and make a profit because they innovate and cut costs. The horror that someone can’t get their social security check in the mail by USPS! It’s not like FedEx or UPS can do it, let alone just sending it online...
@maxheadrom3088
@maxheadrom3088 3 роки тому
I have to say: The USPS is beloved outside the US also! All my packages come to Brazil through the USPS. I have purchased old computer monitors for the 8 bit Apple computers, all with the old glass CRT, and all of them arrived in perfect condition. I thank the USPS and the the Brazilian counterpart, the EBCT aka Correios do Brasil. Both are being attacked, btw.
@thorinbane
@thorinbane 3 роки тому
Same from Canada. UPS and FedEX have overage charges to us from as short a distance as 20 miles form the seller to the buyer. Why would I pay much more in shipping than the value of the piece of plastic that could have been sent via post office at 0.1KG?
@juniyananajukyu
@juniyananajukyu 2 роки тому
I’m Postal mail handler at a P&DC and it’s always cool to see parcels going internationally. Thanks for using the USPS.
@thewanderingrey8830
@thewanderingrey8830 3 роки тому
Aunt serves as a postal delivery woman for almost 30 years. Grateful for her services and counting what she has to go through during her service (being mauled by dogs, broken legs, irascible receivers just among the few) she deserves all the perks she gets. She retired last year.
@johngillon6969
@johngillon6969 3 роки тому
people think postal workers got it made . I have been making friends with all my carriers in my neighborhood for years. They actually look out for me. . It is a hard thankless job. i have walked with some of them while they make their rounds. It is a shame how some of the people they deliver to give them flak for taking a short cut thru their yards or if somehow a mistake was made and they received some one eltses mail.
@jimcook8514
@jimcook8514 2 роки тому
She probably deserves jail time if you ask me.
@spacecoastbonsai1421
@spacecoastbonsai1421 3 роки тому
It’s not a BUSINESS!! It’s a damn service we need. They need quit spending billions bailing out the cruise industry and airline industry!! Those are businesses. That’s their job. What if the post office was gone??
@korenng5553
@korenng5553 3 роки тому
Stamps can't charge above inflation. Glad Pres had a hard look at where issues are now.
@spacecoastbonsai1421
@spacecoastbonsai1421 3 роки тому
Why doesn’t the post office just charge a $1 per stamp I don’t get why it hasn’t happen. There legit isn’t a market. They are the only ones. Does the government have regulations or control over them upping the price of stamps?
@dandx67895
@dandx67895 3 роки тому
You want to put all political and Social obligations on USPS and still want to make it profitable. What kind of Santa Clause business is this
@NoneofyourBusiness-iv6pi
@NoneofyourBusiness-iv6pi 3 роки тому
the post office is NOT a business. It is a government institution that predates the constitution and 1 of the only institutions purposefully and specifically set up in the constitution. A necessity that is not supposed to make a profit
@bftjoe
@bftjoe 3 роки тому
So when I go BUY a stamp to buy the SERVICE of mailing a letter it isn't a business? Interesting, tell me more about what is or isn't a business.
@aterfelis4708
@aterfelis4708 3 роки тому
@@bftjoe From the not O.E.D. - Service: a facility supplying some public demand (E.G. bus service). Businesses are in business to make money and often to increase shareholders value. If you cannot understand the difference there is little you'll learn in the UKposts comment section.
@bftjoe
@bftjoe 3 роки тому
@@aterfelis4708 Oh so FedEx and UPS provide a physical product? Got it, genius. Which definition of service did you cherry pick? Because that's not even the first, second, or third definition of service.
@aterfelis4708
@aterfelis4708 3 роки тому
@@bftjoe I never said that there has to be a physical product, that was your addition. You are conflating the exchange of currency for goods or services and a business, which is typically a corporate entity who's primary goal is to increase corporate and shareholder value. From the web - Definition of service (Entry 1 of 5) 1a : the occupation or function of serving in active service b : employment as a servant entered his service 2a : the work performed by one that serves good service b : help, use, benefit glad to be of service c : contribution to the welfare of others d : disposal for use I'm entirely at your service 3a : a form followed in worship or in a religious ceremony the burial service b : a meeting for worship -often used in pluralheld evening services 4 : the act of serving: such as a : a helpful act did him a service b : useful labor that does not produce a tangible commodity -usually used in pluralcharge for professional services c : serve 5 : a set of articles for a particular use a silver tea service 6a : an administrative division (as of a government or business) the consular service b : one of a nation's military forces (such as the army or navy) 7a : a facility supplying some public demand telephone service bus service b : a facility providing maintenance and repair television service 8 : the materials (such as spun yarn, small lines, or canvas) used for serving a rope 9 : the act of bringing a legal writ, process, or summons to notice as prescribed by law 10 : the act of a male animal copulating with a female animal 11 : a branch of a hospital medical staff devoted to a particular specialty obstetrical service I picked 7, but if there's one you like more please feel free to point it out.
@devontorres6449
@devontorres6449 3 роки тому
The postal service is labeled a “public service” and is labeled as such like the police force, firefighters, corrections etc. it is a government entity for the people and it is written in the constitution for that purpose so that citizens could have access to mailing across the US. It has been looked at as a private entity because leaders have forgotten it is an American right due to its constitutional origin. Due to this such a service just needs to break even to be honest. Even if it does not this does not matter. People just can sink in the idea that it’s not meant to be profitable but deliver service to the American people at every address as a constitutional right of service almost like a perk. The Government set restrictions as if it was completely a non profit government entity but expects it to run privately. That’s the biggest problem.
@brokeduece1691
@brokeduece1691 3 роки тому
I like seeing all the positive post. The USPS is a service and not a business. It should not be privatized... In the last decade we all seen what happens to "too big to fail" private business. We the tax payer foots the bill, the CEO and board members make $$millions, the workers gets laid off, and we still won't get services... The the US government should also get into air travel. WHY are we subsidizing private airlines?
@purpleprideftw757
@purpleprideftw757 2 роки тому
It's also seeing a staggering amount of turnover and retirements. You have an older generation of workers retiring and not enough people to fill holes. This leads to an abundance of workers left to pick up the slack meaning many are working 10 to 14 hours 6 days in a row. This then leads to further turnover because the employees are burnt out.
@brantley2171
@brantley2171 3 роки тому
The US Postal Service is very similar to the United States military in which neither of them were built to be a profitable business.
@javierjaime9386
@javierjaime9386 3 роки тому
Oh the army is
@Glenintheden
@Glenintheden 3 роки тому
The American Enterprise Institute is not a neutral source and thus should not have been invited to talk on this video without also inviting a progressive to counter AEI's talking points.
@d.c.347
@d.c.347 3 роки тому
💯 %
@KevinSmith-qi5yn
@KevinSmith-qi5yn 3 роки тому
They had a progressive. Maybe you missed her despite talking almost exactly after the AEI.
@Glenintheden
@Glenintheden 3 роки тому
@@KevinSmith-qi5yn , No, I would call her a genuinely neutral commentator. As a result, the political balance of the video was still tipped in favor of the right wingnut, free market capitalist narrative. To balance things out they should have also invited someone like Thom Hartmann or Robert Reich to speak.
@KevinSmith-qi5yn
@KevinSmith-qi5yn 3 роки тому
@@Glenintheden When I read up on her, she doesn't seem neutral. It also doesn't make sense to bring in the same people over and over again. They may not have researched the subject as thoroughly. She is much more a specialist.
@rbk9915
@rbk9915 3 роки тому
Glen Wallace to invite a progressive they’ll have to go looking in a lunatic asylum. Hard to do during this pandemic.
@DHPearson1
@DHPearson1 3 роки тому
The Post Office is NOT a business, its a function of the government just like libraries or the military.
@diablo09090909
@diablo09090909 3 роки тому
USPS is a service by the US government to the people of the country. It is weird it is being considered a business and looked into losses and gains.
@SoundSpliff
@SoundSpliff 3 роки тому
People need to stop pretending that USPS is a business. It's a Government agency, which is meant to provide a service for the country's citizens. USPS != FedEx or UPS. USPS shouldn't be making money on citizens. Running at "a loss" shouldn't be a problem. The benefits of USPS are beyond raising money. How much money does the Department of Homeland Security make the United States every year?
@yeathatsright1034
@yeathatsright1034 3 роки тому
Thats where i think the usps should fall in line with that department.
@EddyFisico
@EddyFisico 3 роки тому
Banks get trillions of dollars but there is no money for Postal Service
@gg3675
@gg3675 3 роки тому
It's not a "broken business model," because it shouldn't be a business in the first place. Turning government services into businesses is idiotic and always goes wrong.
@robh3007
@robh3007 Рік тому
The language "broken business model" in no wise implies that the USPS itself is a business. But rather the words "broken business model" most likely apply to the fact that, whether the USPS is a business in its own right, nevertheless it CONDUCTS business. As in, the USPS is in the business of shipping letters and parcels. Its business is the delivery of items from one point to another, and it is the WAY it conducts this business that is under scrutiny. You don't have to BE a business, to be in the business of achieving a goal or ends. For example, soup kitchens are in the business of feeding the hungry and homeless. That doesn't mean they're a business. Also one could say "It's none of your business." Nobody considers the mafia a legitimate business in any legal sense. They do not hold a business license, they do not have a business tax status and do not enjoy the legal protections normally afforded to businesses. But if you're IN the mafia, and you get whacked, what's the last thing they tell you? "It's not personal. It's business." You see, the word business has multivalent meanings depending upon the context.
@gg3675
@gg3675 Рік тому
@@robh3007 I think you just defeated yourself in this argument. Take care.
@McCov1
@McCov1 3 роки тому
The US military doesn’t turn a profit, but it gets the job done. The USPS should be looked at the same way. Besides, thousands of veterans work for the USPS.
@tech-hilfeportal6611
@tech-hilfeportal6611 3 роки тому
This is your tax money how about you move to venuzaula or north korea if you like government
@chrisjohnson2460
@chrisjohnson2460 3 роки тому
The provision that it must set aside enough money to cover the pensions of it's employees for the next 75 years, covering people not even hired yet took a profitable organisation to not making a profit for the soul purpose of dismantling it based on profitability so they could pocket the money! Get your facts straight.
@Sigma13X
@Sigma13X 3 роки тому
Remove the requirement for USPS to fund employee healthcare costs for people who are not even employees yet. No other business has to do this. Allow USPS to set prices without the politicians. Allow USPS to provide simple banking services to the millions of unbanked or underbanked Americans. Guess what? You would have a successful business... If we are even going to compare it against a business.
@dannyho6786
@dannyho6786 3 роки тому
The public would be in TOTAL SHOCK if they knew how the post office treated they[re employees (like scum of the earth)
@davinp
@davinp 3 роки тому
In addition to prescriptions, elderly people who are not computer or phone savvy may still pay their bills via the mail. So it is important to save the USPS
@gwaiwohng2181
@gwaiwohng2181 3 роки тому
It's not going away. Don't worry. But it should be privatized.
@sachin2842
@sachin2842 3 роки тому
@@gwaiwohng2181 y so ccp can spy?
@TheLittleRadicalThinker
@TheLittleRadicalThinker 3 роки тому
Gwai Wohng privatization literally means gone.
@astaloaf2113
@astaloaf2113 3 роки тому
@@sachin2842 Yes he and above u *jo""" "* everywhere and he should mind his Chinese communist business.
@fredricklee
@fredricklee 3 роки тому
CNBC did not do a thorough research into the USPS model. In the early- or mid- 1900s, the USPS used to be involved in community banking. However, our federal politicians (with banking lobbying) eliminated the practice due to concerns about unfair competition. HBO’s John Oliver’s show featured it last year (if I am correct) and the reason why it needs to be brought as an entry for low-income and unbankable. Also, the idea of the USPS revisiting this concept was floating around by Bernie Sanders. However, there has been little traction on giving the USPS this option back. CNBC and it surprisingly none of the speakers did not mention this fact. The USPS model is no different than Amtrak where it is a quasi-government entity expected to be self-sufficient. However, there are too many guardrails from lobbyists, competition, and even some politicians to operate in a way that provides a viable service that is self sufficient.
@vampirekid14
@vampirekid14 3 роки тому
Congress passed laws prohibiting it from selling any goods. Then passed laws forcing it to prepay 75 years of pensions. Then forced it to disassemble post sorting machines, then they wonder "why is the post office losing money?"
@harv6871
@harv6871 3 роки тому
USPS should be relieved of paying health benefits 75 years in advance!! Other business aren’t required to do that why should Postal service!
@user-nw5hh5gp1m
@user-nw5hh5gp1m 3 роки тому
It requires money to make money. this is the best secret I have ever discovered we don't make money, we EARn and MULTIPLY money
@daveseth5873
@daveseth5873 3 роки тому
Exactly!
@seanabigail6153
@seanabigail6153 3 роки тому
Investing in crypto now should be in every wise individuals list, in some months time you'll be estactic with the decision you made today.
@jaypedro4343
@jaypedro4343 3 роки тому
@@seanabigail6153 Most intelligent words I've heard
@eugenejesse6462
@eugenejesse6462 3 роки тому
Seems crypto is overtaking the stock market in the recent bull run haha
@lucaslogan6998
@lucaslogan6998 3 роки тому
Stocks are good but i swapped and invested in Bitcoin and other Cryptocurrency. I have been making good profits.
@railgap
@railgap 3 роки тому
If you want to lay blame for USPS having difficulty with its budget, consider this: until President Reagan tried to turn the USPS into a cash cow, but insisting that no longer be self-supporting / self-sufficient. Instead, whatever the USPS generated in revenue would go into the general gov't coffers, and whatever funds the USPS spent would come out of a budget granted to them out of that general fund by congress. Consequently, the USPS suddenly became stagnant in the 90s while other postal services were either being modernized (with generally good outcomes) or privatized (with disastrous outcomes) ours couldn't afford new machinery so while the USPS finally now offers decent internet-enabled services and has (had, until Trump's toadie gutted it) modernized mail processing equipment, we are twenty years behind some other postal services and certainly behind commercial carriers. Remember, some folks in congress don't think the government should provide you with ANY services in return for your taxes -- except for the opportunity to die for your country inside a breathtakingly expensive tin can.
@davidsdoodles5089
@davidsdoodles5089 3 роки тому
This type of work would be perfect for electric cars because they would save money from cheaper “fuel” and electric cars run perfect in stop and go traffic which extends the range so you get “free fuel” and with the money they save they could make it cheaper to mail things Another thing is that it would help the environment especially because there are so many mail cars/trucks
@puzzleluvr
@puzzleluvr 3 роки тому
This actually makes a lot of sense 👍
@Georgeqaws
@Georgeqaws 3 роки тому
@@puzzleluvr This makes a lot of sense until you realize it would cost more to purchase an electric vehicle vs a gas vehicle plus 20 years of fuel. Electric vehicles are just not to that scale of production yet to the point where they are economical.
@davidsdoodles5089
@davidsdoodles5089 3 роки тому
@@Georgeqaws this is not true because with the amount of money you spend on fuel versus electric the car would eventually pay for it self For example my sister used to drive an 70 miles every day for two years an electric car however you would have saved 10000 dollars in the same amount of time driving the same amount of miles
@dalepiedlow5045
@dalepiedlow5045 Рік тому
A long time ago the Post Office received more mail than it could sort and deliver in its' one day requirement. They began to give business and governments a discount to 'pre-sort' the mail before it was received at the P.O. This was a substantial savings for the pre-sorters. Now that volume is way down and sorting machines are being retired, that big discount continues. Why?? On a different note, why do homes need six day delivery ? The only first class mail most people receive is bills and statements of account. Congress mandated recently that six day delivery must continue. If congress wants the P.O. to spend huge amounts on service that in not necessary then congress should pay for it.
@buildbrighter8386
@buildbrighter8386 3 роки тому
VOTE IN PERSON!
@Userkzb20253
@Userkzb20253 3 роки тому
Since he doesn’t pay taxes, why should he care? In fact, he is not qualified to comment until he pay taxes. I don’t mind to use the govt to use my taxes to revamp the infrastructure of postal office to become more competitive.
@Noe-gj9mw
@Noe-gj9mw 3 роки тому
He litterally does pay taxes lol, he has paid more taxes than you or anybody in your family will ever pay for 5 generations
@kentmorton2872
@kentmorton2872 3 роки тому
@@Noe-gj9mw 750.00 and nothing at all for many years. Undoubtedly you are a member of the cult. Open your eyes.
@seancasity7538
@seancasity7538 3 роки тому
@@kentmorton2872 You should use more reliable source than anonymous source from nyt with no physical evidence available. Also remember when Rachel Maddow illegally obtained his taxes from 2005?
@kentmorton2872
@kentmorton2872 3 роки тому
@@seancasity7538 I really don't care how they were obtained. Sean can you tell me why a innocent man is trying to hide his taxes from the people that he works for so vehemently? I don't have to get burned to know that fire is hot.
@seancasity7538
@seancasity7538 3 роки тому
@@kentmorton2872 If he had anything to hide the IRS would be flocking to him like flies to a hot cake. Also there's a difference between personal taxes and federal.
@0530628416
@0530628416 3 роки тому
The easies solution is to connect cost of packages to price. The only reason the postal service can cut a deal with amazon is because amazon knows delivering to those locations is a loss.
@brettster3331
@brettster3331 3 роки тому
When the postal service was require to fund the retirement of all works for the next 75 years it means they have to provide that retirement now for future employees not even born yet, imagine if private industry had to do that now !
@junaid2606
@junaid2606 3 роки тому
It would really help the post office if they could partner with banks and serve as an access point for depositing and withdrawing money. Obviously, legal changes would have to be made, but a smart government would make those changes rather than privatise or remove the postal service.
@rogerstoned2592
@rogerstoned2592 Рік тому
SOLUTION ONE: legalize weed (it's already legal under 14th Amendment's Equal Protection Clause but the govt and press ALWAYS LIE for politics) and have ONLY GOVT sell it, and USPS delivers. PROBLEM SOLVED.
@4eightyvolt
@4eightyvolt 3 роки тому
Postal Accountability And Enhancement Act mandates the postal service to pre-fund retirees' health benefits up to the year 2056 estimated at $55 billion. But contrary to what we believe, bankruptcy and privatization wasn't the main motive. All that money is available for Congress to use as it pleases since PAEA made it a part of federal budget. Bush administration demanded this specifically to be part of the bill. You see Postal service has never been tax funded. Its always been a self funded entity independent from the federal budget. But that changed with PAEA. Just like social security, that money is being raided. What's left is a bunch of IOU's. This results in more federal debt because all that money has to be paid back.
@mistervacation23
@mistervacation23 3 роки тому
Because the mail never stops. It just keeps coming and coming and coming. There's never a let up. It's relentless. Every day it piles up more and more and more! And you gotta get it out and the more you get it out it keeps coming in! And then the BAR CODE READER BREAKS! AND IT'S PUBLISHER'S CLEARING HOUSE DAY!
@laurice8056
@laurice8056 3 роки тому
Banking should be resumed at the post office. It is a good way to help make minority, and low income communities become economically stronger. Postal money orders are the last remnants of banking through the post office. Get rid of predatory lending systems, like pay day loan or title loan companies. Currency exchanges too, because of the expensive fees for their services. Banking through the post office can be regulated and insured by the Federal Government. And the postal retirement plan should be restructured and supplemented by the Government too.
@riggaden4248
@riggaden4248 3 роки тому
Political interference at the behest of private market interests.
@jefferybuettgens4849
@jefferybuettgens4849 3 роки тому
Does the US military have to pre-fund their retired people?
@chillylytical9410
@chillylytical9410 3 роки тому
Yes, you do get covered as congress is the one usually paying for it.
@wmwardwell
@wmwardwell 2 роки тому
As an Amateur Radio Operator, I trusted the postal service. Lately, I hear them saying "due to lower business we will have to raise rates,and limit deliveries"........no truer words were ever spoken by a business that has plans to go under. However, I HAVE received MORE deliveries including weekends that ever before in 70 years. Sounds like some of the ruling class made a sweetheart deal with AMAZON but they didn't mention it to management or the unions. Adios USPS , your guys on top screwed you, not US !!!
@Phlegethon
@Phlegethon 2 роки тому
1. Close down post offices and move it to inside stores 2. Launch a postal savings bank.
@gqp3215
@gqp3215 3 роки тому
We are going to start buying more essentials online, delivered by USPS
@jameshurley224
@jameshurley224 3 роки тому
So you can be told that they cant deliver for some reason.
@chillylytical9410
@chillylytical9410 3 роки тому
It’s mostly ups and fedex dealing with your packages, usps deals with all of your credit card statements, private things that needs to be sent via mail and stuff like that.
@jameshurley224
@jameshurley224 3 роки тому
@@chillylytical9410 ummm thats a no, i get a lot of shipments via usps and ups sure post prior to this twerp ripping up the place. Never had a issue now i can't get a package with a travel toothpaste tube delivered because it somehow won't fit in the mailboxs provided for regular mail and packages. Hell i even got a notice on a package still in another state saying that i wasn't home to accept it...its in Chicago im in Arizona. ..how's that happen?
@chillylytical9410
@chillylytical9410 3 роки тому
@@jameshurley224 idk things are whack rn
@Curling_Rack
@Curling_Rack 3 роки тому
lol all this time i thought USPS had better service than Canada Post
@albear972
@albear972 3 роки тому
It has until it got sabotaged starting in the mid-2000's and now especially due to political bullcrap.
@Pygmonicus
@Pygmonicus 3 роки тому
They're trying to frame it as a business model to justify trying to get rid of or privatise it.
@thenerdgirl1
@thenerdgirl1 2 роки тому
I know for one I will never use the USPS unless I have to. More of my deliveries get mixed up than not. My wife works in a receiving department for a large parts company and she says they constantly have issues with them. More than all of the others combined.
@niagaradrones
@niagaradrones 3 роки тому
But my Workhorse stock needs to rocket...
@BLACKAAROW
@BLACKAAROW 3 роки тому
Same here lol I bought in at $22 a share
@teacup755
@teacup755 3 роки тому
Post office is a Constitutionally mandated service. It is no different from the military in that regard.
@andrepoghosyan8269
@andrepoghosyan8269 2 роки тому
Where in the constitution does it says we need the USPS
@rachelle2227
@rachelle2227 3 роки тому
Omg in one of the first few seconds of the video, they featured a quilled card. I'm a paper quilling artist, so seeing that made me happy 😊
@coolbluereview
@coolbluereview 3 роки тому
Make the primary model of the postal service “to fulfill government deliveries” don’t force them to compete with other businesses over packages and just let them fill in the gaps. It’s too unnecessarily spread thin. Just make it focus on its primary purpose.
@TheOfficialZombieWhisperer
@TheOfficialZombieWhisperer 3 роки тому
It's a service to the people, other than paying for shipping and stamps our taxes should pay the rest It's for us (US) regardless of what we have coming in the mail.
@mind-of-neo
@mind-of-neo 3 роки тому
Imagine looking at a company at a financial deficit and pointing to how the employees are paid and treated as the problem ("just treat them a little worse!") as if treating every employee with dignity and respect should be something up for discussion and not an obvious default trait for a company to have to have in order to stay in business.
@ettorefieramosca5460
@ettorefieramosca5460 3 роки тому
Look what have made postal service in other countries. Diversification Is the solution. So they have to become a bank and insurance Company, an e-commerce, a fast courier. Be everywhere Is a value that must be used more.
@cl4udioiturra
@cl4udioiturra 3 роки тому
:( Your package is on its way to a USPS facility. Sign up to get updates, and we'll send you a delivery date and time when available.
@syedbilalnafees2002
@syedbilalnafees2002 3 роки тому
Vote him out, if you want to keep the postal service
@lankatr
@lankatr 3 роки тому
Post office is a service, not a business. Get a grip
@kalobrogers235
@kalobrogers235 3 роки тому
Here's an idea: raise prices by 20% and tell Amazon to get over it.
@chrisguevara
@chrisguevara 3 роки тому
USPS is a huge business subsidy. It is part of any transaction where you mail in a payment as well as delivery of goods. I'm sure it can be made more efficient, but it's a public service first and foremost!!!
@glennalexon1530
@glennalexon1530 3 роки тому
Being preferred to other government agencies does not make USPS "beloved". It may be the least hated.
@FinancialShinanigan
@FinancialShinanigan 3 роки тому
Mask is political, post office is political, why is everything political??
@DragonKingGaav
@DragonKingGaav 3 роки тому
EVERYTHING in America is political and controversial!!!
@Kubush1
@Kubush1 3 роки тому
That is how Democrats operate. They are the biggest joke in American history.
@aoikemono6414
@aoikemono6414 3 роки тому
Political: relating to the government or the public affairs of a country. Masks being mandated by the government. POLITICAL. Post office is a government entity. POLITICAL. Literally anything involving the government, involving laws and law enforcement, is POLITICAL. Any system that governs a society. POLITICAL. When your math teacher assigns homework every week. POLITICAL. He or she is the system governing the society in your math class. You can lobby him or her to reduce the amount, give waivers, or make exceptions. You have officially entered into POLITICS.
@sugadagud3093
@sugadagud3093 3 роки тому
So Corporations can dismantle the system and create their own = profit
@georgetodd5795
@georgetodd5795 Місяць тому
The Constitution does NOT say anything about providing universal mail service or even service at all. The postal clause in Article 1, Section 8 simply states that Congress has the power to establish post offices, but it doesn't have to. Through most of America's history, there were post offices in cities or populated areas but private carriers picked up mail and delivered it to the folks living way out in the boonies. The USPS should not exist; government has no obligation to guarantee mail service and the private sector does a better job of it anyway.
@ningthegreat
@ningthegreat 3 роки тому
Postal Service is necessary, great coverage by CNBC to show why it's needed.
@TheLittleRadicalThinker
@TheLittleRadicalThinker 3 роки тому
USPS has a fantastic business model that's completely broken, and even more fantastic way to calculate the costs and revenue. It gives Amazon $2 per parcel, regardless of size, from 2 oz to 70 lb, each is $2. Of course if most parcels only takes 1 min to process and deliver on average, it will be profitable. However, this is never achievable by the correct way of delivery. If you saw any mail person was able to do it, you knew s/he was cutting corner in some places. Driving too fast, not putting on sit belt, not taking breaks/lunch breaks, throwing parcels, skipping delivery stops, and a lot of nasty stuffs in order to meet the deadline. Why do you think people can't receive their normal mails once DeJoy implemented the new 8 hour no overtime rule? Literally each route is too long for 8 hours, and the mail persons need to take overtime to finish a day with normal amount of mails. What happen if the new rules implemented? The mail person work 8 hours, not done, go back to office with undelivered mails from last part of the route, then the next day, same happens, still the last part, and again the next day. The last part of the route literally can be forbidden from receiving any future mails. Plus, if a mail person got a vacation, got sick, or simply a vacant route, it can take 3 to 4 weeks to get someone to the route, whatever reason no one is working on the route, and if the post office is understaff, and it's very often, the whole route will not be delivered for weeks or even months. Of course, the policy halted, so it's not going to be months for now.
@bftjoe
@bftjoe 3 роки тому
Where did you find the rate?
@TheLittleRadicalThinker
@TheLittleRadicalThinker 3 роки тому
@@bftjoe news? Don't exactly remember where.
@TheLittleRadicalThinker
@TheLittleRadicalThinker 3 роки тому
@@bftjoe by the way, the Amazon only pays its flex independent contractor delivery guys $1.25 each parcel, depends on the cities though.
@bftjoe
@bftjoe 3 роки тому
@@TheLittleRadicalThinker What does that have to do with your earlier unsourced claim? Just throwing more BS out there?
@bftjoe
@bftjoe 3 роки тому
@@TheLittleRadicalThinker BTW, from what I have read, Amazon flex pays per delivery BLOCK not per package. So per package would depend on how many packages are in each delivery and would vary, not some BS flat figure that you pulled out of your ass.
@taf4939
@taf4939 3 роки тому
Privatize it and the red states will collapse just like how they don’t even have wifi, but honestly couldn’t careless😅
@GeneCAu
@GeneCAu 3 роки тому
A "business" model has a need to make money. USPS does not meet the requirement, ever.
@MCorpReview
@MCorpReview 3 роки тому
In thailand 🇹🇭 telecom uso is paid for by a fund through which its private competitors contribute. Analogously, this would involve getting fedex ups maybe amazon to contribute, and the portion only goes to delivering to difficult 😓 areas rather than employee pensions. The pension issue...hmmm no solutions for that.
@yamanawrooz5132
@yamanawrooz5132 3 роки тому
I am a truck driver. I pick up and deliver regularly in USPS distribution centers. It never surprises me how disorganized, slow, inefficient USPS is. You have employees walking around not working or usually busy with their cell phones. The paperwork often gets lost trailers are assigned to different companies or don’t get loaded on time. A lot of delays caused by not working accurately. The amount of waist in time, personnel, resources is mind boggling. When you walk in their facilities, you often see mail dropped on the floor every body walks by and look but nobody picks it up. I think that is someone’s mail. Facilities are very dirty. One will argue, that is the reason why we should pay more from taxpayers money. If you do that they will continue throwing and wasting your money. They already receive an insane amount of money from everyone’s tax money. You don’t go to a restaurant and pay $50 for just a hamburger while you could have bought the same hamburger for $4. Yes post office is that $50 hamburger. Give it to Amazon and that same hamburger will cost you (taxpayer) just $4 with better taste and faster preparation time.
@VictorM86
@VictorM86 3 роки тому
United States logic: - Sending letters is a social obligation. - Healthcare must be paid even if you are dying. Brilliant......
@kez7705
@kez7705 Рік тому
Will it close down soon ?
@bcallahan3806
@bcallahan3806 3 роки тому
Great video. I have questions. Where is that retirement money now. Is it being used for general funds or an asset to borrow money against. What business or government institution is required by law to stockpile possible future retirement money's for a 75 year outlook? Yet not allowed to invest in an open market or semi open market or 401k , Roth ira with contributors consent and participation. To bankrupt an institution that has survived over 2 centuries. Because somebody wants a money grabbing is horrible. Ups and FedEx would not exist if not for USPS taking their money losing runs. It shouldn't have been 4 quarters for a dollar. Should be 1.50 or deliver it yourself. It's basically subsidizing ups and FedEx with postal money. Not a good plan. As well as the 2020 holiday season. When ups and FedEx refused certain services. But USPS could not. And handled an estimated 6 million extra parcels a day. ( think that is low) Yet criticized immensely. Know my mail carrier deserves a smile and thank you, and a wave . He deserves every penny he gets and then some. Always pleasant and efficient. Days he's off mail is 1to 3hrs off. That's a testament to his performance. It's an essential service. That should be self supporting. If you could keep beaurocrats from meddling in operations or trying to take/borrow money with no intentions of paying it back. Social security the same. Every time it shows surplus. Gone. Then when elections arise. Ssi going broke. The shoe shopping has got to stop. Federal funding of unemployment for incarcerated people in California has to stop. Probably would pay for USPS.
@mind-of-neo
@mind-of-neo 3 роки тому
Expecting a government service to be profittable like a business is literally the most absurdly republican thing of all time.
@IanHobday
@IanHobday 3 роки тому
The post office isn't a business!! It's a public service. FFS don't parrot Republican talking points and talk about the USPS as a business.
@teddybruscie
@teddybruscie 3 роки тому
Say it again for the dumbasses in the back.
@DS-gt1ft
@DS-gt1ft 3 роки тому
EXACTLY! The U.S. Military has never turned a profit (or ever stopped an invasion of U.S.home soil) Why is the USPS supposed to? If you want a company to take a letter across the country - Fed Ex will charge $15-30 dollars!
@albear972
@albear972 3 роки тому
Yes! We have to tell this to CNBC!
@bftjoe
@bftjoe 3 роки тому
It has elements of both a business and a government agency, as explained in the video. Are you deaf? Is your business exempted from property taxes and required to keep the same price for all areas and have a legal monopoly in certain areas?
@teddybruscie
@teddybruscie 3 роки тому
@@bftjoe It only operates like a business because Neoliberals in Congress made it operate like a business but kept its obligation as a public service because that's what it always has been. Neoliberals want to privatize the post office and deunionize it. They say this openly and have been pushing for policies to get them closer to that goal, taking the post office out of the budget and making it fund itself, was one of the first attempts to do just that. And now the post office is being forced to either get rid of ist benefits or privatize. Neoliberals are evil.
@edletain385
@edletain385 3 роки тому
Canada has not had Saturday delivery since 1969, except for packages on the last Saturday before Christmas.
@thetruthwillsetyoufree4747
@thetruthwillsetyoufree4747 3 роки тому
Don’t let Amazon take away our Postal Service
@lankatr
@lankatr 3 роки тому
Next week: "Why does US military keep losing 700 billion dollars a year? Who came up with such a terrible business model?" CNBC you're a joke
@potato2941
@potato2941 3 роки тому
I think rural areas/hard to reach area should be 3 day delivery. Zone A, Monday, Wed, and Friday. Zone B Tuesday, Thursday, and Saturday. Also 25billion loan to USPS will not help, they need a 25billion grant.
@yeathatsright1034
@yeathatsright1034 3 роки тому
If your in a urban city. Think of the big processing plant in your city ok . Up above in the offices, there are people seating at desks most of them make at least 50 to 60k . The point here is that the usps needs to be like a chain of command.
@Deloowix
@Deloowix 3 роки тому
It’s a shame this video does not study how inflation is actually calculated. Inflation by the government had been manipulated for years to be lower than it actually is. That’s why USPS prices are not profitable. Price is not increasing according to real inflation.
@wald01979
@wald01979 3 роки тому
Inflation rate isn’t measured correctly. If you change the measured features in the CPI, you see quickly unaccounted inflation.
@maxheadrom3088
@maxheadrom3088 3 роки тому
Very smart, these guys from Switzerland! Since they'll have to go into the rural parts to deliver mail, why not carry some people with them also! Nice!
@gqp3215
@gqp3215 3 роки тому
My mom lived till 93 on his pension from being a federal employee. 10 years or more alzhiemers at end of life
@0tayaya
@0tayaya 3 роки тому
Let's all be real here, the overhead cost is just too high. Definitely largely paying the management as well. How about show a detail cost of the management level ?
@Me-sq9ol
@Me-sq9ol 2 роки тому
Well putting someone (DeJoy) with a business conflict of interest in charge isn’t going to help. That should have never been allowed to happen.
@GoldenCombatDjthegoldenplayer
@GoldenCombatDjthegoldenplayer 2 роки тому
Watching this as my CPU package left on of their carrier facilities 24 minutes away Its been 6 hours and it was also suppose to arrive on the 28th
@victabeer3960
@victabeer3960 3 роки тому
The international postage costs are a huge problem stopping me from buying anything from America . The US dollar conversion makes it easier for Americans buy from Australia . Thanks for the eBay cash America . I would like to buy American Vinyl records but the UK has much more reasonable postal fees . Sorry DJ Quebert
@gqp3215
@gqp3215 3 роки тому
My Dad carried the mail in Baltimore 20 years, Finksburg a suburb of Baltimore 17 years
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