His opponent.....well, here's my take:
Billy Long is showing his personal stripes of giving an uneducated response....again.
I learned that in business if you can't answer the question, you get the persons contact info and follow-up by COB the next day.
Long has been quoted by KY3 as wanting to 'cut costs' in order to get the spending of the P.O under control and the US Taxpayer. Sounds Great....but here are the facts :
The P.O. overpaid the CSRS fund (Civil Service Retirement System) by 75 billion since 1972. A billion here, a billion there, pretty soon you're talking a lotta money. This is a ton of money, and the Government owes it to the P.O.
A report on the findings stated
:
"A study just released by the U.S. Postal Service’s Office of Inspector General (OIG) shows that the current system of funding the Postal Service’s Civil Service Retirement System pension responsibility is inequitable and has resulted in the Postal Service overpaying $75 billion to the pension fund. The OIG estimates that if the overcharge was used to prepay the Postal Service’s health benefits fund, it would fully meet all of the Postal Service’s accrued retiree health care liabilities and eliminate the need for the required annual payments of more than $5 billion. Also, the health benefits fund could immediately start meeting its intended purpose -- paying the annual payment for current retirees, which was $2 billion in 2009. "
So in other words guys. If congress would pay the Post Office its due, they would be generating revenue. Scott understands this but 'Businessman' Billy Long doesn't
Draw your own conclusions..
