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Archive for August 10th, 2012

All Aboard Amtrak for “Fraud, Waste and Abuse”

Friday August 10th, 2012   •   Posted by K. Lloyd Billingsley at 4:05pm PDT   •   4 Comments

Amtrak holds a monopoly on food and beverage sales on Amtrak trains. That has not prevented the taxpayer-funded rail system from losing nearly $1 billion—a full $834 million—on those services since 2002, about $80 million a year. In 2011 Amtrak spent $206 million on food services but collected only about $121 million. A hamburger…
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The Postal Service’s Fiscal Fiasco

Friday August 10th, 2012   •   Posted by Craig Eyermann at 2:20pm PDT   •   6 Comments

The news for the fiscal future of the U.S. Postal Service is grim: WASHINGTON (AP) — The nearly bankrupt U.S. Postal Service on Thursday reported losses of $57 million per day in the last quarter and warned it will miss another payment due to the U.S. Treasury, just one week after its first-ever default…
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