Expand the Post Office. Stop using US Postal Service revenues (all non-taxpayer) to reduce the deficit, and eliminate the $5.5 billion annual fee to pre-fund retiree health benefits. Lifting this onerous requirement would make it unnecessary to close mail processing centers, and revenues could be used for reforms and expanded services instead -- starting with a postal banking system offering savings accounts, check cashing, small loans and other basic financial services.
Postal Banking. Until the 1960s, America's most successful savings bank was run by the post office. Over a billion people worldwide can get financial services at their post office. Now the US Postal Service’s Inspector General has proposed bringing back savings along with check cashing, small loans and other basic services to America’s 30,000 post offices.
We should be expanding the Postal Service and not making cuts. The Postal Service should be government and not private. They should offer more services: copies, faxing, simple banking services like check cashing, providing change, packing, etc. We need more sorting facilities, updated technology, and faster service for lower costs.
The Government should be the Bank. Instead of the Government (us) lending money to for-profit banks at essentially 0% interest, the Government should be the direct lender to all citizens at a slightly higher interest rate, 1 or 2 percent. Imagine a new Banking window at the Post Office. Government coffers would benefit from the interest and repayments, new business start-ups would increase, home loans and car loans would be at affordable rates, the poor would not have to live with 500% inter
Bring back the Post Office Bank. If there is one thing that federal government should for us besides defense, it's run the currency. Over the last 50 years, a huge proportion of our currency has been shifted to private control by banks—credit and debit cards. Let the Post Office compete with them by offering credit and debit cards. Let USPS sell bonds, too, as they used to. Why should the big banks be the only ones with access to the Discount Window?
Congress imposed a pension law that forced the U.S. Post Office to fund its pension for 75 years in advance & to do it in 10 years. No company, private or public, funds its pensions for workers not yet born. If they did they would go bankrupt. That law is hurting the post office, its workers (at a time when jobs are badly needed), and hurting our economy and mail delivery to many in rural areas that depend on the P.O. for medicines & needed supplies. Ask Congress to repeal that law now!