Issa repeats claim that refunding USPS overpayments is a “bailout”

It will probably come as no surprise that Darrell Issa reacted to the postal service’s announcement that it would stop adding to its already overfunded FERS retirement account by using his favorite word- “bailout”:

"The United States Postal Service, our nation’s second largest employer, is now past the brink of insolvency," said Issa, chairman of the House Oversight and Government Reform Committee.

"This would not be tolerated in a private company. … USPS needs fundamental structural and financial reforms to cut costs and protect taxpayers from an expensive bailout," Issa said.

via Issa Warns of New Bailout as Postal Service Suspends Pension Contributions – FoxNews.com.

No, it certainly wouldn’t be tolerated in a private company. When a private company (or individual) overpays the federal government, they get what’s called a “tax refund”. Only in the case of the US Postal Service is such a refund called a “bailout”.

For the record, the USPS is NOT cutting off payments to fund retiree pensions. It has decided to stop adding to an existing $6.9 billion surplus in its FERS retirement accounts.

  • Give me break

    Hello…..This knob head doesn’t seem to understand that his analogy doesn’t hold water because the government, including USPS, does not pay taxes. How would you issue a “tax refund” if they don’t pay taxes?

    Get a clue or get off the House Oversight and Government Reform Committee!!

  • Gregg

    Darrell Issa is a Issahole!! Nuff Said!!

  • R. Harbeson

    Mister Issa…. you getting a tax refund check or paying no taxes, free health care and lots of cash… is a BAILOUT!

  • JDK

    a private company wouldn’t be in this mess because they would NEVER pre-fund at a 100% level. Also, they can raise rates when needed without having to wait for a response from CONgress.

    One final thing: Issa and Ross seem to have no clue what the definition of a bailout is. When someone (congress) OWES money to someone else (postal service), that is not a bailout!

  • Ha

    What is it that this guy (Issa) doesn’t understand. Get your head out and do some thinking on your own and not what your party is forcing you to do!!! Just what we need. MORE UNEMPLOYED American workers. BRILLIANT logic when our own economic worst enemy is unemployment itself!!!

  • david

    wow and people elected him to a position to look out for the american people not company that want a piece of the usps

  • richard

    why doesn’t issa propose privatizing all elected officials except the president. they could draw a salary, answer to a watchdog ethics commission and the president and save the taxpayers hundreds of millions of dollars yearly. no perks, no freebies, no retirements, no benefits etc.

  • OG

    We all know it is not a “bailout” …

    The real estate baron Issa has refused to investigate six banks accused of illegal activities and is now blaming the democrats. Issa claims that democrats are guilty of “obstructionism” and that is the reason behind his lack of action. Does Issa actually believe the general public will not be able to see through his B.S? Banks have done everything to profit from the real estate downfall, AS HAS DONE ISSA. Rep. Issa has used taxpayer money to “boost” his property value in Vista, CA. Rep. Issa would probably say he was clever to use the system in a case that benefits himself … in the bank account. Yet, he politically attacks the Postal Service by continuing to spread misinformation. And to accuse the democrats of “obstructionism” is just as ludicrous. How easy does Issa “forget” that it was the democrats who asked him to subpoena those banks still involved in shady practices at the expense of those Americans who are struggling.

    Issa dumps-out words like “obstructionism” and “bailout” like he’s been struck by a large can of beans.

    OG

  • Felicia

    Issa is doing nothing more than continuing on the path of the GOP agenda to undermine unions and destroy the middle class…. They have for too long stood in the way of the rights ideal of a new world order fo America….which is the establishment of some form of a neo-Christian industrial serfdom under the dictatorship of lord republicorp… This clown hasnt got a clue! Solidarity!

  • Bigwheel

    Mr. Issa should be recalled.

    What he, Mr. Ross and other republicans are doing is UNAMERICAN!! Their agenda is designed to destroy America.

    I believe it even boarders on TREASON!!