By Zachary Stieber – June 9, 2020 U.S. Postal Service revenue rose by hundreds of millions of dollars during the COVID-19 pandemic, undercutting warnings the agency would collapse if not given federal funding, a group of lawmakers said. The post office should revise its projections, given that revenue during the first 11 weeks of the…
Analysis/Opinion – August 6, 2019 “Reforming the Postal Service” (Web, July 28) points to USPS’ shipping and package capabilities as its one redeeming quality amid the agency’s rapidly growing losses. USPS’ $143 billion in total unfunded liabilities and debt are disregarded as an afterthought — and apparently so are the nation’s taxpayers who may be…
The Postal Service has reported its financial results for fiscal 2019’s second quarter (Jan. 1- March 31). Here are some highlights: • Revenue. Total revenue was $17.5 billion, essentially flat from the same period one year earlier. First-Class Mail revenue declined 3.3 percent, while Marketing Mail revenue declined 3.9 percent. Shipping and packages revenue increased…
By David Williams – April 04, 2016 The United States Postal Service (USPS) is in trouble. The USPS has lost $35.6 billion in the last four years, their unfunded liabilities equal $114 billion, and a report released this week showed that the mail is late more often today than it has been at any point…
February 16, 2015 What if your credit card company told you: “You will charge a million dollars on your credit card during your life; please enclose the million dollars in your next bill payment. It’s the responsible thing to do.” Doesn’t seem quite right, does it? Well, that’s what the U.S. Postal Service’s requirement to…
By David P. Hendel – February 10, 2015 Ever since the Postal Service “defaulted” on its annual $5.5 billion payment to the U.S. Treasury for retiree pre-funding obligations, it has been assumed that USPS is a pauper agency. But a new white paper issued by the USPS Office of Inspector General concludes that the value…
