Postal Service Announces $8.5 Billion Loss

[Matt Collins]

The U.S. Postal service has announced (http://www.usps.com/communications/newsroom/2010/pr10_107.htm) a net loss of $8.5 billion for fiscal 2010. Since 2006, the USPS has lost $20 billion, and the organization is close to maxing out its $15 billion line of credit with the U.S. Treasury. Although the USPS has achieved some cost savings, they haven’t been enough to overcome a large drop in revenue due to the recession and the greater use of electronic alternatives by the public.


SOURCE:
http://www.cato-at-liberty.org/postal-service-announces-8-5-billion-loss/#utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Cato-at-liberty+%28Cato+at+Liberty%29

[smithtg]

The U.S. Postal service has announced (http://www.usps.com/communications/newsroom/2010/pr10_107.htm) a net loss of $8.5 billion for fiscal 2010. Since 2006, the USPS has lost $20 billion, and the organization is close to maxing out its $15 billion line of credit with the U.S. Treasury. Although the USPS has achieved some cost savings, they haven’t been enough to overcome a large drop in revenue due to the recession and the greater use of electronic alternatives by the public.


SOURCE:
http://www.cato-at-liberty.org/postal-service-announces-8-5-billion-loss/#utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Cato-at-liberty+%28Cato+at+Liberty%29


8 bil here, 10 bill at DOE, a couple 50 bil for DOD, noooo problem.....

[fisharmor]

Instead, policymakers should recognize that the USPS’s financial woes require bolder action: privatization.

They don't even need to go that far. All they need to do is decriminalize competition.
When UPS and FedEx can legally carry letters, USPS will be a dead man walking. At that point it will just be a matter of how to dismantle it humanely.