| It's bad enough being REFERRED TO as ignorant ... but it's worse being a blowhard | <– Date –> <– Thread –> |
From: Brian E. Buxton (BrianBuxton BuxtonMotorsports.com)
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| Date: Tue, 5 Dec 2006 21:57:33 -0800 (PST) | |
Todd,
Thanks for the info. Am curious who loans them the money on the loans they have. Wasn't the most recent postage increase because the USPS was not going to meet their requirements for loan payments? They lose about $1 BILLION dollars a year.
Also, not so sure you are correct in your a statements. Appropriations from Congress are tax dollars, correct? Taken from the GAO United States General Accounting Office Report to Congressional Requesters, February 2002
"Appropriations: In the fall of 2001, USPS asked Congress to appropriate about $5 billion to cover costs related to the terrorist and anthrax-related incidents as well as their expected negative effect on revenues. USPS subsequently asked for $1.3 billion to cover expenditures related to these incidents through June 2002. To date, Congress has appropriated $675 million to cover these costs. 10 This is the first appropriation since fiscal year 1982 for purposes other than revenue forgone on free and reduced rate mail. 11 In addition, USPS asked for nearly $1 billion in its fiscal year 2003 appropriation request, representing the total amount of revenue forgone for free and reduced rate mail between 1991 and 1998, for which USPS had not yet received appropriations. This request would be in lieu of the current payment schedule established by a 1993 law for $29 million annually "
"USPS continues to depend on borrowing and has not indicated how it plans to reduce its debt. USPS has not generated sufficient cash flow from operations to cover capital outlays in 11 of the last 15 fiscal years. USPS’s outstanding debt balance has grown steadily since fiscal year 1997, nearly doubling from $5.9 billion to $11.3 billion at the end of fiscal year 2001 (see fig. 5). This trend of increasing debt levels essentially shifts the burden of reducing the debt from current to future ratepayers and creates pressure for USPS to raise postal rates in the future. Although this debt is not guaranteed by the government, 15 if future ratepayers are unable to reduce this debt, Congress could determine that the government should step in to pay some or all of these obligations. Simply borrowing to keep USPS operating is not acceptable as a long-term option and is contrary to USPS’s mandate to be self-supporting. "
Managing Partner, Private Label Livery Services
www.PrivateLabelLimo.com
President, Brian Buxton Enterprises, Inc.
Nationwide Enclosed Auto Transportation
www.BuxtonMotorsports.com/storage-transportation.php
Thanks for the info. Am curious who loans them the money on the loans they have. Wasn't the most recent postage increase because the USPS was not going to meet their requirements for loan payments? They lose about $1 BILLION dollars a year.
Also, not so sure you are correct in your a statements. Appropriations from Congress are tax dollars, correct? Taken from the GAO United States General Accounting Office Report to Congressional Requesters, February 2002
"Appropriations: In the fall of 2001, USPS asked Congress to appropriate about $5 billion to cover costs related to the terrorist and anthrax-related incidents as well as their expected negative effect on revenues. USPS subsequently asked for $1.3 billion to cover expenditures related to these incidents through June 2002. To date, Congress has appropriated $675 million to cover these costs. 10 This is the first appropriation since fiscal year 1982 for purposes other than revenue forgone on free and reduced rate mail. 11 In addition, USPS asked for nearly $1 billion in its fiscal year 2003 appropriation request, representing the total amount of revenue forgone for free and reduced rate mail between 1991 and 1998, for which USPS had not yet received appropriations. This request would be in lieu of the current payment schedule established by a 1993 law for $29 million annually "
AND
"USPS continues to depend on borrowing and has not indicated how it plans to reduce its debt. USPS has not generated sufficient cash flow from operations to cover capital outlays in 11 of the last 15 fiscal years. USPS’s outstanding debt balance has grown steadily since fiscal year 1997, nearly doubling from $5.9 billion to $11.3 billion at the end of fiscal year 2001 (see fig. 5). This trend of increasing debt levels essentially shifts the burden of reducing the debt from current to future ratepayers and creates pressure for USPS to raise postal rates in the future. Although this debt is not guaranteed by the government, 15 if future ratepayers are unable to reduce this debt, Congress could determine that the government should step in to pay some or all of these obligations. Simply borrowing to keep USPS operating is not acceptable as a long-term option and is contrary to USPS’s mandate to be self-supporting. "
Brian
Todd Walke wrote:
Brian wrote:
>Plus, they as a business receive >money from the Government to operate AND they make money from postage >sales, etc.
Umm, actually they don't receive any tax dollars for operations. The Postal Reorganization Act in 1971 made the Post Office an independent entity of the executive branch of the United States government and began the process of eliminating direct subsidies.
From page 30 of the 2005 Annual Report (http://www.usps.com/history/anrpt05/):
"As an independent establishment of the executive branch of the United States government, we receive no tax dollars for our operations. We are self supporting, and have not received a public service appropriation since 1982. The last time we received any substantial contribution of capital from the U.S. government was in calendar years 1976 and 1977, when we received two $500 million payments which we were required to use to repay operating debt. We fund our operations chiefly from cash generated from operating revenue."
Todd Seattle,WA '86 GTI, Red of course. (exciting racey car) 263,000 miles '87 Golf, Polar Silver. (boring work car) 590,000 miles <- Yeah, baby! http://www.pureluckdesign.com <-Ferrari & VW stuff
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-- Brian E. Buxton
President, Buxton Motorsports, Inc . www.BuxtonMotorsports.com (812) 476-2281 x 209 Member ThaList.com
Managing Partner, Private Label Livery Services
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President, Brian Buxton Enterprises, Inc.
Nationwide Enclosed Auto Transportation
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- Re: OFF TOPIC - The good 'ole chickenhawk argument, (continued)
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Re: OFF TOPIC - The good 'ole chickenhawk argument Brian E. Buxton, December 4 2006
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It's bad enough being ignorant, don't be hypocritical too Dennis Liu, December 4 2006
- Re: It's bad enough being ignorant, don't be hypocritical too Brian E. Buxton, December 4 2006
- Re: It's bad enough being ignorant, don't be hypocritical too Todd Walke, December 5 2006
- It's bad enough being REFERRED TO as ignorant ... but it's worse being a blowhard Brian E. Buxton, December 5 2006
- OT! Give it up, Brian Dennis Liu, December 5 2006
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It's bad enough being ignorant, don't be hypocritical too Dennis Liu, December 4 2006
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Re: OFF TOPIC - The good 'ole chickenhawk argument Brian E. Buxton, December 4 2006
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