Will Post Office Fire OVER 300,000 Workers?
SAN FRANCISCO (MarketWatch) -- The U.S. Postal Service said Tuesday that it will offer buyouts to 30,000 workers, or about 4.5% of its workforce, in an effort to cut costs. The one-time offer is expected to save USPS as much as $500 million next year. The agency said the buyouts are part of an effort to cut $6 billion in annual costs. USPS has about 656,000 career employees, according to the agency's Web site.
Firing 30K saves $500 million. Needs to cut $6 Billion. Looks like another 330,000 workers to go to reach their goal......
That is a lot of people not paying income taxes or social security/medicare.
As the cutting continues, so does the tax revenues to Federal, State, and Local governments.
Pretty soon, there are going to be a lot of Americans with not much to do and government with not much money coming in to offset a rapidly rising obligation base.
With over 40% of the NYSE trading just four Zombie financial companies and massive numbers of government layoffs and cutbacks ahead of us, thank goodness Bennie the B says the recession is over......otherwise we could be in for some serious trouble.
Think about this for a second......as revenues to government continues to evaporate, what will politicians demand from you so they can pay their salaries?
As you sit there trying to find out the next great investment, although this has never been an issue in America since George Washington was president.....up to now......when your government is broke.....so are you.....unless you are hiding your money in a Swiss account...but then you might be in jail.
You might want to start talking to your politicians about how we are going to restructure this mess.....or maybe they just think they own everything you have?
Welcome to the world of joint liability.....and you won't even have to go to law school to learn about it.