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(68 seconds)
-- How Will You Use This Story? --
(OPEN):
AMERICANS HAVE BEEN HEARING ABOUT HOW THE U-S POSTAL SERVICE
FACES A DIRE FINANCIAL-FUTURE. HOWEVER, THE PRESIDENT OF
THE NATIONAL ASSOCIATION OF LETTER CARRIERS, FREDRIC
ROLANDO, SAYS THAT THE REAL STORY IS QUITE DIFFERENT...
(ROLANDO):
"DESPITE THE RECESSION AND INTERNET-COMPETITION, THE POSTAL
SERVICE ACTUALLY HAD AN OPERATIONAL-PROFIT OF NEARLY ONE-BILLION
DOLLARS, OVER THE PAST FOUR YEARS. LAST QUARTER ALONE, IT NETTED
226-MILLION DOLLARS. THE PROBLEM IS A 2006
CONGRESSIONAL-MANDATE THAT REQUIRES THE POSTAL SERVICE TO PRE-FUND
RETIREE-HEALTH BENEFITS FOR THE NEXT 75 YEARS, IN JUST 10 YEARS' TIME.
NO OTHER PUBLIC AGENCY OR PRIVATE COMPANY FACES THAT TYPE OF OBLIGATION.
THIS LEADS TO REQUIRED ANNUAL-PAYMENTS OF FIVE-AND-A-HALF-BILLION
DOLLARS--WHICH IS THE REAL CAUSE OF THE POSTAL SERVICE'S
FINANCIAL-PROBLEM. WE AGREE WITH POSTAL MANAGEMENT, THE 'POSTAL
REGULATORY COMMISSION', AND THE CHAIRMAN AND RANKING-MEMBER OF THE
RELEVANT SENATE-COMMITTEE THAT CONGRESS SHOULD ALLOW THE POSTAL SERVICE
TO MAKE THESE PAYMENTS FROM ITS EXISTING-PENSION SURPLUSES--RATHER THAN
FROM ITS OPERATIONAL-BUDGET. THAT WOULD MAKE IT PROFITABLE ON
PAPER--AS IT IS IN PRACTICE."
(CLOSE):
FOR MORE INFORMATION, VISIT
"N-A-L-C"-DOT-ORG.
