Deficit hysteria
There is certainly rampant misunderstanding about the regulations and accounting that could govern banking that is postal. Opponents declare that brand new economic solutions would economically tank USPS and afterwards produce an unsustainable financial burden for the authorities.
However these issues don’t mount up. To begin with, the postoffice is certainly not straight funded by income tax profits. The Postal Reorganization Act of 1970 has legitimately forced USPS in order to become self-sufficient, to create its income from the services that are own whatever draconian cuts Congress has since imposed. Also, the analysis by the Inspector General implies USPS it self will probably make money away from brand brand brand new monetary solutions through modest costs and interest.
Then a stable postal banking system could be our best defense if preventing Main Street from falling into the flames along with Wall Street is indeed a national concern.
However, whatever the post office’s own financial predicament, the federal government’s balance sheet will not add USPS assets and liabilities. Certainly, the separation can be so complete that there’s a law that is uniquely foolish USPS put aside money today for many future retiree health advantages — without subsidy through the Treasury. Continuar leyendo “Why Banking in the postoffice might be a Better Option Than Payday Loans — and Wall Street”