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Senate approves a $34 billion Postal Service bailout

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    Should taxpayers be responsible for mounting losses?

  • Duration 2:47
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-- the US Postal Service losing up to 25 million dollars a day until now taxpayers hadn't been on the hook for its mounting losses but that may change joining us right now from.

Los Angeles with the bad news William that I gymnasts -- -- -- William.

O'Brien the volume a first class mail is down 25% revenues are -- a billion dollars in ten years so.

You let the agency continue to lose money or bite the bullet and reduce services -- -- also services tried to change but congress stopped it and one other plans.

To push the agency further into debt and -- you.

Even more.

Lot's changed since forces moved the mail.

Today it increasingly -- -- like this you've got mail and because of it the US Postal Service is broke if the post office what was a business.

It would be in bankruptcy.

It's insolvent to the Postal Service loses 25 million dollars -- today contrary to conventional wisdom however it does not receive a federal subsidy.

That may be changing.

Today we tent and -- very important first step.

-- say an American institution.

And.

US senate passed a 34 billion dollar bailout bill last month that actually forces the postmaster.

To accept taxpayer money for jobs he does -- need and buildings he doesn't want.

The bill prohibits the service from closing 250 mail processing centers and 3000 mostly rural post offices.

Republicans like that the subsidy also fully funds the union retirement fund.

Democrats like that who's not happy congressman -- Republican Dennis Ross who -- taxpayers should not be forced to sustain a business model that started going out of business long ago what do we need to do to make sure that.

We cut something that needs to be cut if we don't cut it are we willing to borrow more money from China.

To fund it.

So how much would that senate bill cost Yule log on to foxnews.com slash your money check out the taxpayer calculators let's take a look at that right now if you make between thirty and 50000 dollars that's 34 billion dollar bailout will cost you about two.

If you earned 100 to 200000 dollars your share is more than 400 dollars.

And if you're in the top tax bracket it's not cheap it's gonna cost you more than 4000.

Dollars just -- bailout bill but this competing house bill that would allow the Postal Service to close post offices stop Saturday service lay -- workers and save money even put advertising the postal trucks that make money.

That would allow you guys for taxpayer loan.

And not a handout that's -- coming up in the house probably this for next week back.

Aren't really not to -- live personality primarily thanks.

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