Build back better proposes 6 billion to electrify post office fleet 70%

[freebeard]

The post office could do haircuts, and mammograms too, or any number of things. But why?

I'm trying to remember the last time I bought a haircut. I think it was the 1990s.

The Post Office has never offered haircuts and mammograms, why should they start now? Postal banking is a thing. en.wikipedia.org/wiki/Postal_savings_system

United States
In the United States, the United States Postal Savings System was established in 1911 under the Act of June 25, 1910 (36 Stat. 814). It was discontinued by the Act of March 28, 1966 H.R. 8030 (89th Cong.) (80 Stat. 92).[22]

Fifty years later, Vermont Sen. Bernie Sanders' 2016 presidential campaign platform included plans for postal banking.[23] In 2018, Massachusetts Sen. Elizabeth Warren and New York Sen. Kirsten Gillibrand supported such a program.[24] In April 2018, Gillibrand introduced S.2755 - Postal Banking Act[25] partly in response to the Trump administration's suspension of payday lending regulation imposed during the Obama administration. In 2020, after Joe Biden defeated Senator Bernie Sanders in the 2020 Democratic presidential primaries, the Biden-Sanders "Unity Task Force” policy recommendations for a Biden administration, released in July, included postal banking.[26] In September 2020, Gillibrand and Sanders announced a newer Postal Banking Act.[27] It would help strengthen the Postal Service's financial situation and help unbanked and underbanked people with savings and checking accounts, debit cards and low-dollar loans they might otherwise be forced to get from payday lenders at high interest rates.

[cRiPpLe_rOoStEr]

Many other countries have public banks, and in Brazil one of the biggest public banks once implemented a project to provide banking through post offices. Later this service had been transfered to a private bank, but AFAIK it was ultimately discontinued.

[freebeard]

2002.

en.wikipedia.org/wiki/Postal_savings_system#Brazil

[Hersbird]

Originally Posted by freebeard

I'm trying to remember the last time I bought a haircut. I think it was the 1990s.

The Post Office has never offered haircuts and mammograms, why should they start now? Postal banking is a thing. en.wikipedia.org/wiki/Postal_savings_system

It was a savings only account where most of the money was just deposited in local banks anyway. It was limited to $500 in the day, about $13,000 in today's money, and the big draw (although it was unpopular at the time) was the money was insured. This was before FDIC insurance that all banks have now. Banks don't make a revenue stream on $13,000 savings accounts.
Why Sanders and AOC are pushing it, like anything else they would ultimately like the government to take over ALL banking and how else do you start but by running one bank in every town, the local Post Office. It's not about saving the Post Office it's about socialism.

[freebeard]

Thanks I didn't know the details, I just want to be able to buy postal money orders. Maybe I should look into wire transfers from the credit union.

The quote from Permalink #11 says that they are disbursing VISA gift cards. Those aren't as fungible as cash.

[redpoint5]

Money orders can be purchased anywhere. Since I've never owned a checkbook, on the rare occasions a check is required, I'll do an online bill pay if given enough lead time for the check to be cut and mailed, or walk into a credit union and have them print one up.

I despise paying to spend my money, so I never do money orders. Online bill pay is free. I don't know why they call it bill pay though, as I never use it to pay bills, but simply transfer money in check form to someone else.

[freebeard]

So, how 'bout them mail trucks?

[Hersbird]

Originally Posted by freebeard

So, how 'bout them mail trucks?

Well I would say the build back better bill isn't going to pass now. Manchin was getting tough on the cost analysis and now with the loss in Virginia they have lost any momentum to make it happen. The will be lucky to get the infrastructure bill done now.

[Piotrsko]

Hey Hersbird: what is the possibility the PO would make better money getting rid of junk mails losing bulk rates.

I ask because the wife is pre 65 & gets a mailbox full of medicare insurance crud everyday now. Almost gives my carrier a hernia.

[redpoint5]

Unsolicited mail should be charged double, which would cut down on a lot of the junk.

I get a letter every other day from my mortgage lender asking me to refi. Still don't know why companies haven't discovered email communication.