DeJoy was literally taking USPS money and turning it over to the Republicans as political donations.
September 14, 2020
By Alison Durkee
A 2001 U.S. Postal Service Inspector General (click here) audit found that noncompetitive contracts awarded to New Breed Logistics, run by now-Postmaster General Louis DeJoy, may have cost the USPS at least $53 million more than if the contracts had been competitively awarded, NBC News reports, raising scrutiny that DeJoy may have overbilled the USPS and marking the latest in a string of damaging reports tied to the controversial postmaster general’s work in the private sector....
...New Breed was awarded a USPS contract for a pilot mail transport equipment service center in Greensboro, North Carolina in 1992 and then for subsequent service centers in 1997, 1998 and 1999, which were the focus of the inspector general report; DeJoy was running New Breed Logistics for that entire period....
...former Postal Service IG Dave Williams, who has been highly critical of DeJoy, told NBC it is “puzzling why it was not referred for investigation.”...
The entire pension funds demand placed on the Post Office was ridiculous. (click here) It isn't as though the USPS pensions have risky investments.
The U.S. Postal Service participates (click here) in three retirement plans: the Civil Service Retirement System (CSRS), the Federal Employee Retirement System (FERS), and the Postal Service Retiree Health Benefits Fund (PSRHBF). The first two are pension plans, and the third is set up to prefund and provide retiree health benefits. These plans are restricted to government trust funds invested solely in U.S. Treasury securities. They are often regarded as riskless in the sense that there is virtually no possibility of loss of principal....
