We have been hearing for years about the over reach and anti business effects of government over regulation. How these regulations kill jobs. Well here is an example of such a case. The Congress passed a law that effectively mandates that a business fully fund its healthcare and retirement funds for a full 75 years by 2015. The effect of this intrusive legislation is the very real risk of putting this business out of business.
The kicker is the law was passed and enacted in December of 2006 by a Republican House and Senate and signed by a Republican President. Is it a coincidence that the Republicans are the source of the only example of over regulation I can find? I don't think so. I think it is because the objective of the legislation was to bankrupt this business that is the only one named specifically as a power of Congress in the Constitution. That business is the US Postal Service. and the regulation is HR 6407, ‘Postal Accountability and Enhancement Act‘.
Here is an excerpt from the law.
<<blockquote>>‘(3)(A) The United States Postal Service shall pay into such Fund--
‘(i) $5,400,000,000, not later than September 30, 2007;
‘(ii) $5,600,000,000, not later than September 30, 2008;
‘(iii) $5,400,000,000, not later than September 30, 2009;
‘(iv) $5,500,000,000, not later than September 30, 2010;
‘(v) $5,500,000,000, not later than September 30, 2011;
‘(vi) $5,600,000,000, not later than September 30, 2012;
‘(vii) $5,600,000,000, not later than September 30, 2013;
‘(viii) $5,700,000,000, not later than September 30, 2014;
‘(ix) $5,700,000,000, not later than September 30, 2015; and
‘(x) $5,800,000,000, not later than September 30, 2016. <<blockquote>>
The pertinence to current news is that this regulation is threatening postal service around the country today. It is in the news about reducing the number of delivery days, workforce size, rates, processing centers, etc. All because of Republican politicians oppressive regulations designed to destroy a 200 plus year old business and destroy its union in the process.
I find it funny that the party that screams about oppressive regulations is the same party that uses them for political gain. Repeal this law and tell the regressives in Congress to go home in November, 2012. They have done more than enough damage.