Coming on renewed calls for the United States Post Office to offer banking services….
New York Democrat Rep. Alexandria Ocasio-Cortez and Sen. Bernie Sanders are pushing a proposal known as postal banking – a system whereby the Post Office would be authorized to provide financial services.
In legislation unveiled last week, which also aims to cap credit card interest rates at 15 percent, the pair of self-identified Democratic Socialists said postal banking could provide relief to low-income Americans.
and..
The Postal Service, meanwhile, is bleeding red ink. Losses between 2007 and 2018 are about $69 billion. The last time the agency recorded a profit was more than a decade ago. It has also defaulted on more than $40 billion in payments owed to pre-fund retiree health care expenses
…. Rasmussen Reports conducted a national survey about the popularity of the idea, finding that half of United States residents are directly opposed to the concept:
Voters feel good about the U.S. Postal Service but aren’t sure they want to expand its job description to include banking services as prominent Democrats are proposing.
A new Rasmussen Reports national telephone and online survey finds that just 31% of Likely U.S. Voters favor local post offices also serving as banks, offering services including checking and savings accounts, low-interest loans, debit cards and check cashing. Fifty percent (50%) are opposed, but 19% are undecided.
Postal banking is just a bad idea. And considering who is promoting it, just another step towards socialism.
The USPS is supposed to earn a profit? Huh. Might be better off dropping service to backwater flyover state communities, or charge way more to pick up an deliver mail there.
This is ridiculous!
I believe it was the idiot Harry Reid who opposed curtailing deliveries because he claimed it was the only link to the outside world some people had. I am not at all opposed to closing inefficient full service post offices. If people have to go to a central facility to get their mail a couple of days a week.
I don’t think the USPS has to make a profit, but it shouldn’t run a deficit.
Among the major losing enterprises the USPS engages in is its partnership with Amazon and other direct mail retailers. The United States of America delivers packages at a loss to the final destination. It is shameful to see UPS trucks backed up to the docks at taxpayer funded post offices. Sure makes the volume look good for budget requests doesn’t it????
It’s time to dismantle the USPS and the postal workers union.
Back! Back in the USSR
The Beatles
“Socialism is a scare word they’ve hurled at every advance the people have made. Socialism is what they called public power, social security, deposit insurance, and independent labor organizations. Socialism is their name for anything that helps all people.”
–Harry Truman, 1952———————— If those using that “scare word” do not advocate the abolishment of every ‘socialist” program or service in this country they are flaming hypocrites.
Examples—-Public transportation
Fire departments
Police departments
Public libraries
Every branch of the US military
Roads & highways
Social Security
Medicare/medicaid
Public, not private prisons & jails
Public hospitals
The Veterans Affairs Administration
Public universities
Public parks
Public toilets
Public drinking fountains
Public parking
Public everything.
All should be privatized and given an opportunity to be more efficient and profit.
A for-profit army or fire department. What could possibly go wrong?
Jaa Dee,
Please tell us what Country has prospered under socialism.
This should be easy for you based on your above posts.
Just where in the world is having the post office of all things being transformed into a bank similar to any of the items above???
Here is a counter argument… where is one example of a “free market” idea that has not resulted in crony capitalism, price gouging, and general malaise for everyone other than the top 1-2%?
Also, you all realize that the “urban liberal” parts of the country would be the least affected by a dramatically reduced post office mission. Basically everywhere in SD other than the 4-5 “metro” areas would be fortunate to have mail delivery more than once a week. Of course if those farmer’s wives want to drive an hour both ways in a blizzard to pick up that (very non-socialist wink wink) government subsidy check for their crops, well, good luck to ya!
Facts, most those checks come in form of direct deposit now. But yes continue to beat down rural America and farmers.
I went out in the garage the other night, dug around my workbench and found my trusty 19oz framing hammer. I took off my shoe, and took a mighty whack at my big toe and the hammer broke (as did my toe, obvs). I can’t walk to the store now because, you know, bad toe and all. Please direct deposit a new hammer to my workbench. Thanks!
What does that have to do with a bank Ike?
Nothing at all. Just a lame story about hammers and what happens when you get what you asked for.
First you need to post which free market ideas have hurt your average citizen.
No proxy servers, please.
Yeah, it sure seems like a lot of rural, underbanked South Dakotans could benefit from this. You wouldn’t be forced to bank there of course, just another option.
And in my opinion the government is a service provider, not a business. Its goal is not profit.
We don’t need a bank in every town.
Who is going to pay for the banker to be in a town of 20?
The bank isn’t going to pay it.
Jobs, jobs, jobs. That’s all we hear from the GOP around election time.
An ATM is not a person.
Do you want to discuss the job market under Trump?
The Black unemployment rate is at a record low under Trump.
Free market ideals that have directly resulted in human deaths or mass devastation include but are not limited to…
Insulin prices
HIV medications
Private prisons
Corporate philandering (Enron, big banks, etc)
Slavery
Your turn…
Also, how is this farm bailout not a MUCH WORSE example of actual socialism?
Not a single republican anywhere I’ve seen has been able to do the mental gymnastics to explain that one away.
Facts,
We have slavery in 2019 in the USA?
Enron didn’t hurt me nor did big banks.
Who is getting hurt by private prisons and how?
Most people don’t have diabetes or HIV.
Everything you posted does not affect the majority of average citizens.
You don’t even know what the definition of socialism is because if you did you would know farm subsidies are not socialism.
You asked for free market ideals that HAVE hurt (notice the past tense)… and every single one of those examples hits the nail on the head… your response that they dont affect you is disingenuous and shows how weak your standing is.
And please, humor me, explain how this post office idea is less socialist than the government fixing prices for farmers. The answer that “its so obvious i cant even explain it’ is so farcicial i would hardly believe you were serious if you hadn’t also dodged every example I gave..
I’m still waiting for an answer to where a Country has prospered under socialism.
Your examples have not hurt the average person.
Name one Country that has prospered under socialism.
Why won’t Democrats like yourself answer that?
The Government isn’t fixing prices for farmers. They are defending China’s action.
You obviously don’t understand supply and demand.
There is more supply than demand now and that started before Trump was President.
I didn’t dodge anything.
Let’s discuss the amount of money spent on farm subsidies versus the amount spent on food stamps and other food programs.
I bet you will dodge that one.
Before you answer me, please post the definition of socialism.
It seems you don’t know it.