Why Banking in the postoffice could possibly be a Better Option Than Payday Loans — and Wall Street

Why Banking in the postoffice could possibly be a Better Option Than Payday Loans — and Wall Street

Deficit hysteria

There is certainly rampant misunderstanding about the legislation and accounting that could govern postal banking. Opponents declare that brand brand new monetary solutions would economically tank USPS and later produce an unsustainable financial burden when it comes to authorities.

However these issues don’t mount up. To start with, the postoffice is certainly not straight funded by taxation revenues. The Postal Reorganization Act of 1970 has legitimately forced USPS to be self-sufficient, to build its income from the services that are own whatever draconian cuts Congress has since imposed. (more…)