U.S. Postal Service losses are mounting
In reading The Day I found it shocking that politics and wolves are meddling where they do not belong, “Congress urges Postal Service to undo changes slowing mail,” (Aug. 6), which eliminates overtime for hundreds of thousands of postal workers. Who in their right mind would question the action being made when you understand the losses USPS has created?
According to the General Accounting Office's 2019 High-Risk update, “USPS financial viability continues to be high risk because USPS cannot fund its current level of services and financial obligations from its revenues."
"Poor financial situation: USPS’s overall financial condition is deteriorating and unsustainable. USPS has lost $69 billion over the past 11 fiscal years — including $3.9 billion in fiscal year 2018. USPS’s total unfunded liabilities and debt ($143 billion at the end of fiscal year 2018) have grown to double its annual revenue.”
The wolves would have you believe, “Enacting these policies as cost cutting as COVID health emergency continues is counterproductive.” Get the facts because the GAO data does not lie, only politically motivated wolves do so. We cannot continue to fund the USPS and these sound business measures are warranted.
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