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Obama uses money-losing U. S. Post Office as example? Oops!
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Postmaster General John Potter
Speaking to a town hall of mostly ObamaCare supporters on August 11, 2009, the President compared the money-losing U.S. Post Office as an example of how a government-run program can compete with private enterprise. Oops!
In explaining why he believes the government-run health option would not eliminate private insurance, he said:
My answer is that if the private insurance companies are providing a good bargain, and if the public option has to be self-sustaining, I think private insurers should be able to compete. They do it all the time, I mean, if you think about it, UPS and FedEx are doing just fine, right? No, they are. It's the Post Office that's always having problems."
The image that immediately comes to mind is U.S. Post Office = Government run health care?
The U.S. Post Office is on track this year for an operating loss of between 6 billion and 12 billion, a debt surpassing $10 billion and a $1 billion cash shortfall.
According to Postmaster General John Potter the Post Office has lost $4.7 billion so far this year and expects it to be $7 billion in the red by the end of the fiscal year because of the recession and the movement of letters and bills to e-mail. Several hundred offices are being studied for possible closing and the agency has proposed other cost-saving moves including cutting mail delivery to five days a week.
It loses billions of dollars each year and Obama uses this is an example of how his health care reform would complete with private enterprise? Oop! The cat is out of the bag!
Sources:
http://money.cnn.com/2009/08/03/news/companies/usps_postal_service_privatize.fortune/index.htm?postversion=2009080314
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Obamas-Post-Office-health-care-disaster-53038002.html
More articles:
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d31-Democrats-feeling-the-ObamaCare-backlash-from-seniors
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d28-US-debt-considered-risky-by-Chinese-economists
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d25-Governors-panicky-over-Obamacare-underfunded-health-mandates
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d26-ObamaCare-trying-to-put-lipstick-on-a-pig
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d21-World-reknown-medical-clinic-thumbs-down-Obamacare
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d18-Obama-projects-economic-future-through-cracked-rosecolored-glasses
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