Is struggling Postal Service a sign we're doomed?
One magazine wonders how Congress can tackle any important stuff if it couldn't handle reforming the USPS.
The USPS is finally moving to five-day delivery, something it has been requesting for a while, the magazine reported Thursday. Most Americans are fine with this. Other countries have adopted the same policy.
But Congress' inability to take real action on the Postal Service shows that the U.S. is doomed, the magazine writes. Last year, the House of Representatives and the Senate each took up proposals reforming the service. Both bills died. The House bill never came to a vote, and the bill that passed in the Senate went nowhere in the House.
That Senate bill was as toothless as it gets, by the way. It simply delayed any action on the Postal Service for two years. So the USPS went ahead and canned Saturday delivery on its own using what the Economist calls "dubious legal reasoning."
It doesn't bode well for a Congress that absolutely must tackle some hard issues, including the federal deficit, the debt ceiling, Social Security reforms, taxes and Medicare and Medicaid.
And here's the Economist's point: If Congress can't even deal with something as relatively mild as fixing the Postal Service, how can it possibly handle anything more controversial?
"Does anyone truly believe Congress is up to the challenge?" the magazine asks.
More on moneyNOW
Congress vs. 535 tits on a bull..........take your pick!
Maybe if we could get rid of the undue influences, e.g., lobbyists, superPACS, etc., something positive could get done. Now, if we used those people for target practice...no...nevermind....I didn't mean that.
The martial arts actor Jackie Chan called the U.S. the most corrupt country in the world. Now the British are calling our Congress inept and incapable of doing the job they are elected to do. In fact we are rapidly becoming the laughing stock of the entire world what with our inability to come to terms on any issue and the absolutely insane proclamations that occasionally issue forth from the mouths of our supposed leadership.
Mind you I am glad that I was born and raised here but I have also watched the country that I knew and loved gradually fade away before my very eyes. We rank lower and lower each year on all of the important social measures when compared with many other industrialized nations in the world. Our star is fading and unless we can clean house and get rid of the corruption in Congress we are, as this magazine says, doomed. Sigh.
Sorry, I cant count that high!!!!
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Researchers are developing unmanned aerial vehicles that can help the agriculture industry monitor crops and increase yields.
- Models have it easier getting into US than engineers
- Some of France's richest taxed more than 100%
- Bernie Madoff earns sweatshop wages in prison
- Motor home sales rise in hopeful economic sign
- Mike Bloomberg: Skip college, become a plumber
- Will Yahoo ruin Tumblr?
- Some customers ashamed of their McDonald's bags
- Obamacare could bring more Band-Aid coverage
- Taxpayers won't win on General Motors shares
Interestingly, recent buying across the Treasury complex has pressured the 10-yr yield to fresh session lows in the 1.943% area. Nasdaq +7.38 at 3503.81... NYSE Adv/Dec 1571/1358... Nasdaq Adv/Dec 1256/1125.
More Market News
Looking for a contrarian play? Consider these names that show signs of institutional selling.