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US Postal Service nearing its first ever default on a five point five billion dollar payment due to the treasury today.
So what should be done to save the post -- democratic senator Tom Carper of Delaware cosponsored the bipartisan USPS reform bill.
-- the -- he joins me now senator thank you for coming on the program we appreciate your time.
Thanks Melissa thank you.
I don't think your plan includes cutting labor costs because the post office has a lot of great products they -- home run with these baseball -- -- 80% of the cost is going to personnel right now what would you do about that.
First of all we've done what we need to do innocent we passed a bipartisan bill which we think output is not perfect and -- But the Postal -- back on the right track we need for the house to do three things.
The first thing we need the house is passed bills that we go to conference we're kind of -- Second -- leave the house to do is to pass -- -- so we can go to conference and -- -- compromise.
And the third thing really helps you know possibility any -- so that we can go to conference we're gonna compromise a better bill than we've already done.
The the Postal Service has more employees and they need.
-- have more post office and they need to have more milk processing centers in the our legislation enables.
All those things to be addressed by firing people not anecdotal all the way to cut -- -- part providing return by taking about.
Eleven billion dollars in an overpayment they've already made to the federal employees retirement system and use a portion of that -- incentivized some.
Clinton on Monday held an easy target improvements higher funding -- utility boxes not the way to -- I mean that just -- is that just -- you California.
I mean that pushes the problem down the line.
Don't you think it's -- the benefits are too rich and it's something that it Postal Service that's losing thirteen billion dollars in the past two years can't afford you have to cut benefit.
Beyond the the legislation that we passed.
Provides the money that the polls to choose can use to take care about a 100000 people that are on their payrolls and move them to wait a pension -- That's as you said 80% of their costs or our our personnel related bit too many people are legislation enables him to reduce that -- -- thank -- -- substantial profitability.
We're get -- -- -- -- -- billion dollars I think billion dollars about a third what you need to say we also provide the ability for them to -- to.
-- provide services and post ops plus computer far more cost effective way to see about a half billion dollars.
To reduce by about a third the number mail processing centers that they out -- the milk processor that the male prostitute they have is for an earlier debt.
Again they have more placement need more close -- and they need to have more of a mail processing centers and need our legislation allows me right sizing -- How are our legislation out of the right -- -- workforce.
Our legislation requires arbitrators when they do labor arbitration to consider the financial condition the post -- they don't have to do that now they need to.
So are you think you going to be able to get there because the postmaster general would say that congress is the one that's standing in the way of helping them.
Right size their business and make it profitable are -- gonna get there.
The the senate has passed not a perfect bill but it could go provides them the tools to -- who received the house is not pass any bill.
They need to pass a bill.
He'll do that we can go to conference and we can come up -- more tools.
Who enable the Postal Service to get part -- if not to profitability used to sustainability and avoid here's -- real problem is default Q okay here's a real problem.
What it does is it sends a signal to the postal service's customers that were not -- that they are not reliable.
-- they're certain their futures on certain.
Certain uncertainty lacked predictability is not what businesses need they need to know that philosophy is going to be there can be part but it can be -- going to be part.
Secret Service there's good -- apart -- mini books in order form situation.
Puts little doubt into the critical and long term credibility processors -- at a -- -- with the holiday season coming -- -- -- the construction make -- money.
Profitability -- -- shouldn't be diminished senator carper thanks for coming -- we appreciate your time thank you moments --
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