Hillary Clinton wants to make US Postal Service a bank
The Democratic platform laid out some of the party’s main talking points for the general election, but also included one that may seem unusual, even bizarre, to some.
The 55-page platform said that a Hillary Clinton administration would work to let the U.S. Postal Service offer “basic financial services,” including cashing checks and giving USPS more flexibility in choosing with services it provides, in an effort to revitalize the government service.
Harry Holzer, a professor of public policy at Georgetown University, said the reasoning behind this may be “it’s the one institution that kind of exists everywhere already.”
He added, however, the government would have to spend money to make this work.
In the first calendar quarter of the year, USPS reported a net loss of $2.04 billion, a 38 percent increase from the year-earlier period. As of Jan. 13, the service employed a total of 625,113 people.
“You’d have to fund it. Right now, with their current budget, they can’t take on an unfunded mandate,” Holzer said. It’s “an intriguing idea, but it would cost some money.” – READ MORE