USPS Losing $9 Billion in Good a Year

US News

The U.S. Postal Service said on Friday it was seeking new administrative and legislative reforms as it reported a $9 billion yearly loss, down slightly from the prior fiscal year results. 

New Postmaster General David Steiner said USPS must be more efficient and that it still has a “significant systemic annual revenue and cost imbalance.” He added: “To correct our financial imbalances, we must explore new revenue opportunities and public policy changes to improve our business model.” More

13 Comments on USPS Losing $9 Billion in Good a Year

  1. I am so happy to realize that Canada is not the only country with a “less than special” postal system. The union here in Canada thinks it is still 1975 and that the “tail can wag the dog”. They are in week “whatever” of rotating strikes. No one uses them unless they absolutely have to. The union did the same rotating strikes last Christmas, so NO Christmas cards.
    I discovered about 3 years ago that Germany, the Netherlands, Switzerland all went with private postal systems in the mid 1990’s because of union nonsense and the UK went private about 10-15 years ago.
    The Canadian Postal System’s management are equally as bad as the union and think that their “cushy” well-paying jobs will continue forever. Things can change very fast.

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  2. It’s the pensions. Plus the fact that they are a gov’t-run business. Practically impossible for a business without a profit motive to be profitable. Hard enough for one that actually tries to make a profit!

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  3. How can they be losing money when they charge near a buck now to lose your mail? I’m old and don’t love technology and used to always write a check put a stamp on the envelope and mail it the next day. After the USPS getting worse and worse losing bills I do anything electronically that doesn’t charge me for the privilege of getting their money instantly. Amazon Prime should take over the USPS, and I don’t like Bezos, but hey have their shit together.

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  4. why on earth is an executive branch agency taking part in mass junk mail. seems to me the government is supporting the unwanted solicitation. its on par with telemarketers. further, how about those mail in ballots? if the gov really wanted election integrity the mail in ballot would be history. especially after all the ballot funny business we have seen.

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  5. NMAN – Never made a nickel.
    Cuz everything has to have an acronym!

    Reminds me of when I worked for the phone co. They had a book of acronyms two inches thick! I was the newbie, but even some of the old timers had to look some of them up, so I asked politely, why don’t we just speak POE instead?
    Everybody looks around at each other before asking what’s POE?
    I said Pain Old English.

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  6. My meds ran between Kansas City and Springfield, Mo for 5 days before they decided to deliver them.
    Oh, and that was after taking 4 days to go from Chicago, Il, to Kansas City!
    Really glad they weren’t critical meds.

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  7. A young postal delivery truck driver in my area ran a stop sign last week and was t-boned by a large truck with a trailer going down a state highway. He paid with his life. They don’t hire the brightest.

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