Monday, August 11, 2014

How bad was it, Paul?

The experience, not at the DMV that Professors Krugman and Henderson are recently defending, but at the USPS;
The United States Postal Service ended its second quarter with a net loss of $1.9 billion....
Which adds further to the government monopoly's woes;
"We're quite obviously in a deep financial hole," Joseph Corbett, USPS chief financial officer and executive vice president, told reporters in a briefing.
Liabilities totaling $64 billion exceeded current assets by $42 billion, adding to the agency's dire financial situation, the agency said in a statement.
Which some continue to ignore;
The USPS has sought legislative relief to let it modernize its business service offerings, restructure the future retiree health-fund payments and shift to a five-day mail delivery service.
Postmaster General Patrick Donahoe said he was disappointed in Congress' failure to act.
Is that also a libertarian myth?

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