Statement on U.S. Postal Service Finances "Understated in the Postal Service's financial report of today is one simple fact: Ninety-four percent of the Postal Service's losses this year are a direct result of an onerous payment .....
BigNews.Biz - May 11,2012 - Statement on U.S. Postal Service Finances
WASHINGTON, - Sen. Bernie Sanders (I-Vt.) issued the following statement after the U.S. Postal Service reported quarterly losses:
"Understated in the Postal Service's financial report of today is one simple fact: Ninety-four percent of the Postal Service's losses this year are a direct result of an onerous payment, unprecedented in either government agencies or private corporations, to pre-fund 75 years of future retiree health benefits in a 10-year period.
"The bipartisan postal reform bill passed by the Senate largely corrects this inequity and includes other common-sense reforms to ensure that the Postal Service has the money it needs without drastically cutting services, and the flexibility it requires in the future to generate additional new revenue.
"It is time for the House to pass this important bill to make sure that the Postal Service succeeds in the 21st century."
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Bernie Sanders was elected to the U.S. Senate in 2006 after serving 16 years in the House of Representatives. He is the longest serving independent member of Congress in American history. Born in 1941 in Brooklyn, Bernie was the younger of two sons in a modest-income family.
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