postalnews blog

Here is what the Bush budget has to say about the US Postal Service. Note that the USPS Civil Service Retirement over-payment has now become “savings provided to the Postal Service by the Postal Civil Service Retirement System Funding Reform Act of 2003″, (as if it was money he and the Congress had provided, rather than postal customers):

POSTAL SERVICE

The Administration continues to strongly support efforts to enact comprehensive postal reform legislation that fosters a healthy Postal Service for future generations. The Postal Service provides an important service to the American people and the economy, and the Administration believes that the Postal Service should continue providing affordable and reliable universal service, while limiting exposure to taxpayers and operating appropriately in the competitive marketplace.

Postal reform must be accomplished in a responsible manner that is fair to taxpayers, ratepayers, and Postal Service employees. It must be consistent with the principles of best governance practices, transparency, flexibility, accountability, and self-finance, as expressed by the President in December 2003, and not have an adverse impact on the Federal budget. To this end, the Administration supports reforms that: allow the Postal Service pricing flexibility, but within a firm annual Consumer Price Index rate cap and with a strict limit on the circumstances when rates can exceed the cap; require compliance with all Securities and Exchange Commission financial reporting standards; and permit greater flexibility in the use of negotiated service agreements and worksharing arrangements. In addition, the 2007 Budget proposes to use the pension savings provided to the Postal Service by the Postal Civil Service Retirement System Funding Reform Act of 2003 (P.L. 108-18) that would otherwise be held in escrow in 2006 and beyond, to put the Postal Service on a path that fully funds its substantial retiree health benefits liabilities.