Postmaster General: USPS Losing $25 Million A DAY.
“The postal service is currently operating with a broken business model. Since the economic recession of 2008 we have been experiencing a significant imbalance between revenues and costs. This imbalance will only get worse in the coming decade unless laws that govern the postal service are changed. The past two years the postal service has recorded $21 billion in losses including a default of $11.1 billion in payments to the United States Treasury. The postal service has exhausted its borrowing authority and continues to contend with dangerously low liquidity. We are losing $25 million a day and we are on an unsustainable path.”
I sure HOPE this is not either news or a surprise to anyone. The fact that the US government CANNOT address a problem that is so simple and straightforward as the USPS budget is NOT a good sign for addressing more complicated financial issues.
