We deliver for who? USPS financial woes continue; congressional reform unlikely

Source: Wikipedia.

About $8.8 billion — that is how much the U.S. Postal Service lost in the past year. That is an eye-popping number. The agency is also carrying $11 billion in debt and has more than $120 billion in funded pension and health liabilities.

To be sure, some of that deficit is due to actuarial factor. For example, USPS’s workers’ compensation charge was $3.5 billion last year — much higher than usual due to a change in the way this expense is computed. But even if one wipes away this expense and other “uncontrollable costs,” the U.S. Postal Service still lost $3.4 billion….(Read more)

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