USPS has lost $51.7 billion since 2007

The United States Postal Service has lost $51.7 billion between 2007 and 2014 and has not earned a profit since 2006, according to a report from the Tax Foundation.

“There is no turnaround in sight,” states the report. “The Postal Service will almost certainly register another multibillion dollar loss in 2015; for the first two quarters of 2015, it suffered a net loss of $2.8 billion.”

In addition, the report finds that USPS has failed to make legally required payments to the U.S. Treasury and will default on its statutory obligations, which include the Postal Service Retiree Health Benefit Fund.

“Although the Postal Service has not yet received an explicit taxpayer bailout, it has failed to meet its legal obligations for several years in a row,” the report states. “The odds that a bailout will eventually become unavoidable increase as the sea of red ink continues rising.”

The Government Accountability Office (GAO) estimates that the Postal Service’s unfunded liabilities grew 62 percent from 2007 to 2013. The Tax Foundation says it is doubtful that the Postal Service will be able to meet its obligations.

Damn

They just need to hire some more managers. Phone Post 3.0

Thanks Obama!

KickassMcrad - Thanks Obama!

its obvious they are spending to much on their amazingly speedy service

Just need higher taxes. It is obvious the government knows what it's doing.

They need a new high payed CEO to figure this out. Phone Post 3.0

Not hard to imagine when the mailman literally stops, gets out of his mail truck, walks to the door and gets back in the truck and the post office is only charging 40 cents for that service.

Interesting.  I think 2006 was the last time I sent a package via USPS and it's actually gotten to its desination.

Why don't they secure contracts with companies to ship packages like their competition does?  The postal service is mainly for packages nowadays.  Paper mail is made up mostly of junk mail.  They aren't going to beat out email to regain the paper mail market.

On second thought, they should just get out of the package delivery business and cut paper mail delivery down to once a week.  They'd still lose money, but not as much.

On third thought, they should just cease to exist.  Paper mail should be a thing of the past, and everyone should use email for all that jazz.

Yeah but their making it up in volume.....

Haa haa this is funny. The postal service is hiring like 1100 people all over the country. Kinda interesting. Phone Post 3.0

Source for this article?

can't wait to see what the government will do with healthcare!

oh, now I understand why they tried to charge me 200$ of import fees on 2 30$ pairs of Levis jeans lol. The fuckers "estimated" the value of each pair at 250$ lol. P.O.S

Isn't it due to the Postal Service having to do their pensions for employees differently than any other government agencies?

Oh is it time for this annual thread again?

-They are legally mandated to lose money. They aren't allowed to profit. It's always just a question of how much.

-Junk mail pays for most everything. It's essentially television.

-They predictably lose way more during recessions, when business, its advertising, & therefore junk mail all contract.

"Isn't it due to the Postal Service having to do their pensions for employees differently than any other government agencies?"

Big factor but not the only one.

And all because the Republicans sabotaged it for political gain.