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The unique, arcane accounting rules causing Postal Service's massive losses
[MSN] The House of Representatives on Saturday approved legislation for a bailout for the US Postal Service, which, on paper, has been posting huge losses for years. But in reality, the agency is generating billions in cash.Virtually all of the agency's financial problems stem from a unique, arcane accounting system that no other business or government body follows and that doesn't accurately reflect real costs. ("Utterly absurd," as one politician calls it.) The financial problems have nothing to do with the expected surge in mail-in ballots for the election in November. And they are certainly not because of its contracts to handle delivery of Amazon packages, no matter what President Donald Trump Posted by: trailing wife 2020-08-25 |
| http://www.rantburg.com/poparticle.php?ID=580504 |