No Bailout for USPS
The Postal Service, first of all, doesn’t need a bailout right now. They’re not actually running out of money. They have told lawmakers that they were, but last week we saw the financial reports from the Postal Service and it showed that they have enough cash flow to keep them going until at least May of 2021.
They also received a $10 billion loan from the Treasury as part of the CARES Act that they haven’t tapped yet.
And if you look at the Democrats’ bill, they actually, in addition to the $25 billion bailout, would also allow the Postal Service to use that $10 billion loan that they’ve already received to pay down existing debts instead of using it for current operational expenses.
So this is clearly a handout for the postal workers unions and not so much about making the Postal Service actually operate sustainably.
With the American consumer in mind, we shouldn’t bail out the Postal Service, that should be a nonstarter.
They also received a $10 billion loan from the Treasury as part of the CARES Act that they haven’t tapped yet.
And if you look at the Democrats’ bill, they actually, in addition to the $25 billion bailout, would also allow the Postal Service to use that $10 billion loan that they’ve already received to pay down existing debts instead of using it for current operational expenses.
So this is clearly a handout for the postal workers unions and not so much about making the Postal Service actually operate sustainably.
With the American consumer in mind, we shouldn’t bail out the Postal Service, that should be a nonstarter.
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