There was rampant misunderstanding about the legislation and accounting that will govern banking that is postal. Opponents declare that brand new monetary solutions would economically tank USPS and later produce an unsustainable financial burden when it comes to government that is federal.
However these issues donвЂ™t add up. To begin with, the postoffice isn’t straight funded by taxation profits. The Postal Reorganization Act of 1970 has lawfully forced USPS in order to become self-sufficient, to come up with its income from the services that are own whatever draconian cuts Congress has since imposed. Also, the analysis by the Inspector General shows USPS it self probably will make money away from brand new economic solutions through modest costs and interest.
If preventing Main Street from dropping to the flames along side Wall Street should indeed be a nationwide concern, then a well balanced postal bank system might be our most readily useful defense.