Where Will Federal Employees Turn

It is a complicated business, but I've been following unfunded pension liabilities since it was a contract issue in the 1982 Longshoremen negotiations.  I was on the management side of the table, although I am a C Longshoreman.

The USPS is getting ripped off, or at least their pensions are, in an outrage as part of this federal economic policy failure.  Since the Post Office contribute real money they take in, they are first in line to be ripped off.  In time the powers that be will get around to everyone in the Fed govt, because, really, to whom will the turn.

People say that the USPO does not charge enough, and that is why it is going "bankrupt."  Well, it is likely that they have way too much overhead, and there is the problem.  People say try to get a letter mailed for 44 cents by UPS or fedex.  That misses the fact that USPO has a monopoly on first clss mail.  It is likely that UPS and fedex would deliver first class mail at no charge, for the advertising possibilities on UPS provided envelopes.  But who knows what a free market in postal service would look like.

A free market transition to a free market postal service, one that would protect the postal workers pensions, would be for the USGov to quit claim all assets and liabilities of the USPO to the USPO pensioners.  The pensioners would be given all USPO offices, machinery, equipment, any and all assets, as well as the liabilities.  This would be in the form of stock, which could be freely traded on the NYSE. The pensioners would then either sell their stock of get active in hiring new management.  Things would sort out better then now.

This method could be used to corporatize any govt function.  As things are progressing now, fed pension holders are going to get completely ripped off.

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