The Postal Service lost $2.8 billion in fiscal year (FY) 2008. This year, the Postal Service is concerned its loss could grow to $6 billion or more. Since the Postal Service is limited by law from borrowing more than $3 billion per year and the Postal Service started 2009 with only $1.4 billion cash on hand, there is a danger the Postal Service could face a liquidity problem as payroll and benefits alone are about $54 billion a year.
Do you know you can’t spell “essential services” without “Postal Service?” Okay, actually you can, but we are kicking off this blog series by looking at the important role the Postal Service has played providing essential services to our nation.
You may not know it, but the USPS has...Read More