Ron Johnson: “Unfunded liabilities now total $120 billion.”

“Now, in a perfect world, the postal system would have funded its long term pension retiree health care liabilities as they were incurred. Because they didn't, those Unfunded liabilities now total $120 billion. Unfortunately, the 2006 postal reform bill did not ensure long term financial viability and in its attempt to address the unfunded liability problem, it depleted the postal system of cash and arbitrarily turned long term liabilities into short term liabilities on his balance sheet.” (02:10–02:15)

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