Dennis Ross claims trust fund is "pure fantasy" - postalnews blog

Dennis Ross claims trust fund is "pure fantasy"

Looks like Dennis Ross has a problem with facts. When a commenter on his Facebook page mentioned our article criticizing a Washington Post story for ignoring the $50 billion the USPS has (involuntarily) stashed away for future retiree benefits, Ross responded “The other "trust fund" is just pure fantasy.” But then admitted “Yes, there is over $40 billion already in the fund.” Oh. OK. I guess when you’re a Congressman reality and fantasy don’t mean the same things as they do to the rest of us!

Ross also wrote, without providing any specifics, that “the amount of misinformation coming from postalnewsblog is staggering over the past few months”. Considering the source, we’ll take that as a compliment!

But let’s make one thing clear- unlike the Congressman, we deal in facts, not fantasies. And these are the facts:

  • Between the “mythical” trust fund with its very real $42.5 billion, and the undisputed $6.9 billion FERS overpayment, the supposedly “insolvent” USPS effectively has almost $50 billion in the bank.
  • The trust fund payments are the cause of the USPS losses since 2006. Without them, the USPS would have been profitable over that time period. All of the current USPS debt is money it has had to borrow from the Treasury so that it can then loan it back to the Treasury for the “trust fund”. It’s a shell game designed to take “off budget” postal revenues, and apply them to an “on budget” trust fund, artificially lowering the federal budget deficit.
  • No other company or agency has the same obligation to prefund retiree benefits.
  • Even if one accepts a need for some level of prefunding, the 2006 law was based on assumptions as to volume and workforce levels that no longer apply, yet no adjustments have been made to the payment levels.
  • If the USPS had been allowed to run like a business since 2006 (i.e. without prefunding and Congressmen micro-managing its operations), it would be a profitable enterprise facing the recession with ample cash reserves.
  • Republicans refuse to drop the accounting gimmick that places USPS operations “off budget”, while its retirement funds are “on budget” This allows them to cry “BAILOUT” if the USPS asks for some of its own money to be returned to fund its operations.
  • Congress created the “crisis”, not the USPS unions or managers, and Congress needs to correct its mistakes before it destroys the US Postal Service.

via US Representative Dennis Ross.

  • rkc

    this is a great response that should be used everytimevone of these politicians opens their ignorant mouths about the “crisis” facing the greatest service organization in the world!

  • SpacedOutAce

    Mr. Ross, like his thug Criminal Brother Darrell Issa, reminds all of us as to why we Postal people, hate to admit these people are Americans. Mr. Ross should hold his reins and not follow suit so when Mr. Liar (Issa) is called in on his scam, he won’t go down with him. But I think it’s too late.

  • City Carrier

    Fact is, congressman (cough, gough, gag, gag) Ross, and Issa aren’t interesten in the facts, truth, or objectivity! These right wing zealots are following their “anti American worker” right-wing agenda. There isn’t any amount of debate that will open their eyes, fact of the matter is, we are in a struggle for the future of our jobs/careers! This will be a struggle to the end with these people that can only be ended at the ballot box. Now, all you postal republicans have a choice, be true to your right-wing beliefs, and bring a swift end to your careers, or preserve your careers and either vote Democrat, or independant, your choice!!!

  • IMPEACHISSA

    Impeach Darrell The Car Thief Issa and Dennis The Dunce Ross…they are Traitors and anti-American…and imprison anyone siding with them…

  • M. Jamison

    Messrs Ross and Issa:

    As Daniel Patrick Moynihan said:” You are entitled to your own opinions not your own facts.”
    If you want to argue your positions on the Postal service based on ideology that’s fine; we can respectfully disagree and go about convincing a sufficient constituency to side with one or the other. But you gentlemen are intellectually dishonest in your approach to public policy. When facts don’t support your preferred outcomes you distort and lie.
    It is clear that you gentlemen have neither integrity nor shame, hopefully the people of your districts will see that and send you both home.
    The great failure of the Radical Right is their inability to marshal facts to support their destructive political philosophy.

  • bob komar

    ross,issa and the BIGGEST NUMBNUT OF ALL..donahoe MUST GO!

  • Joe Stein

    In fact the Trust fund now has $44.1 billion in it per OPM thanks to $1.6 billion in earnings this year.

  • @issadarrell

    This is just amazing how wrong the two of them can be. Issa/Ross should be recalled. Its embarrassing they are congressman. What they are trying to do to rural America is just un-American. Come on California and Florida recall if you can. Issa Bankrolled gov. recall.

  • crazy

    Teamwork: all for one and one for themselves. I believe Issa and Ross fall under the themselves label. It’s also funny how Congress is running around in circles trying to cover up their spending of all the billions in prepayment funds that should be made available to the USPS. They would rather destroy the USPS than admit that the funds are gone, especially with elections coming up. This country is going downhill real fast and it is people like Issa and Ross who are leading the way.

  • donieray

    Hey Fellow Postal Friends How many postal employee’s voted these right wings fools in office??????

  • Rich

    Issa and Ross must live in thier own world. They just make up (FACTS) as they need!!!!

  • DStewtermn8tr

    Thank you M. Jamison and SpacedOutAce and everybody else’s comments are right on!!! Vista California, you need to elect a new Representative. Same for whatever district in Florida Ross is in. Kick the bums to the curb.

  • SCENIC ROUTE

    The 49th congressional district in California (Mr. Issa’s district) is ultra conservative and has been for years. He has been reelected 5 times – the last by a two to one margin! The Dems have failed to run a viable candidate. I attended two protest rallies at Issa’s Vista, CA office – poor turn out by postal people and no democratic candidate present to garner support and get some name recognition. Another lost opportunity.

    Issa is wealthy enough to finance his reelection. (I believe he also financed the recall of Gray Davis.) He is a loose canon with no checks and balances on him. I am a constituent who has written and emailed regularly.

    He’s already rich – now comes power.