Why is the Postmaster General Understating Postal Revenue Gains?
By David Yao In a May 9, 2014 press release, the Postal Service issued another quarterly press release turning an operating profit (of $261 million) into a loss. The supposed loss, an accounting fiction, was caused entirely by the 2006 law which generates a long-term loan to the Federal treasury, under the guise of “pre-funding”…