There is no question that a country’s postal service is a valuable national asset. On one hand, it is a functional asset that supports commerce and binds the nation together. On the other, postal operations are capital assets, with distribution networks, vehicles, machinery, and labor resources that have some sort of value.
In a time when everyone is examining the dollars and cents of the postal business, people have a tendency to overlook the bigger picture: the greater role of the Postal Service in modern society. With that in mind, the Postal Regulatory Commission requested the Urban Institute to study the Postal Service. The focus was not a traditional look at the business but a study of the benefits of the Postal Service and its infrastructure to the American population.
On March 2, Postmaster General John E. Potter presented a 10-year “action plan” to meet the challenges faced by the Postal Service as it encounters declining mail volumes combined with increasing overhead costs. The plan comes as a product of a yearlong study by the Postal Service and a number of leading consultants to identify and analyze over 50 different actions that could help counter the changing marketplace. The Postmaster General warned that if the Postal Service continues to operate as it is, it will run a cumulative debt of $238 billion over the next 10 years.