Post by Chris_Wendt on Sept 7, 2011 6:01:45 GMT -5
Nearing default on a $5.5 BILLION payment for retiree health care benefits (OPEB, in school district parlance), the US Postal Service is angling to close numerous local post offices permanently, to cease Saturday mail delivery, and, possibly to close completely "for the winter" this year.
Or aren't they just working over Congress for a bailout?
This may not be all bad news. A Federal bailout of that magnitude for unsustainable post-retirement employee benefits could help, politically, to put the final nail in the coffin for similar benefits at the State level.
Imagine having to close school for the winter?
Interested to know about that? Look up Kalkaska, Michigan, which had to close their schools in March one year because they ran out of money, and the state had no more to give them. Michigan has long since changed their method of funding education to prevent that kind of disaster.
The world is a scary place sometimes!
Chris Wendt
Or aren't they just working over Congress for a bailout?
This may not be all bad news. A Federal bailout of that magnitude for unsustainable post-retirement employee benefits could help, politically, to put the final nail in the coffin for similar benefits at the State level.
Imagine having to close school for the winter?
Interested to know about that? Look up Kalkaska, Michigan, which had to close their schools in March one year because they ran out of money, and the state had no more to give them. Michigan has long since changed their method of funding education to prevent that kind of disaster.
The world is a scary place sometimes!
Chris Wendt
