Why the USPS is running out of money.
I thought that the USPS was in financial trouble because they’d over-promised pensions. Nope. It turns out that a law passed by Congress in 2006 requires the USPS to save up enough money to pay 100% of their pension obligations for the next 75 years by 2016. That’s unheard of. So why require that? To break the back of the USPS union. The same law prohibits the USPS from engaging in any business activity other than strictly postal services, so they can’t even innovate their way out of this. →