Re: [RLC-Action] Tax on Postage Stamps?
jonhenke@... wrote: "The escrow account was added to the legislation as a mechanism for ensuring that the savings created by the Pension Reform Act would be used wisely to meet major challenges confronting the Postal Service."
Sounds like the Escrow Fund is just a savings plan to ensure the Postal Service can meet it's pension obligations without needing to turn to Congress for an emergency infusion of funds.
Thank you, Jon. It is apparent that my local news did a very lousy job of reporting on the escrow fund. The story was reported in connection with the 2-cent postage price hike, and the reporter went to interview the "spokesperson" of the USPS here in the Twin Cities. The "spokesperson" was allowed to explain the escrow account as some mysterious money hole created by Congress, thus putting the blame for the 2-cent price hike on Congress -- more specifically, on Republicans who "control" Congress. The USPS "spokesperson" was allowed to hide the fact that the escrow account was required to straighten out the Postal Pension problems. The reporter didn't know anything about the escrow account before he did the interview, and his news editors botched it further by failing to put the truth to the issue in the newsroom. Instead, they just cobbled together graphics to accompany the interview, so they could flash the "$3.1 billion" on the screen. Viewers were left with the impression that the additional 2 cents postage was going into a Congressional slush fund. More liberal shenanigans in news reporting equals more people dissatisfied with the Bush Administration. I will write a letter in protest, but I doubt the station will air a correction to its story. At least it doesn't appear that the RLC needs to do anything.
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