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.
We didn’t create our blog just to use the catchy name, Pushing the Envelope. We did it to inform and engage stakeholders about our work, particularly our audits and white papers, and the occasional topical issue.
That work, by the way, is rooted in our mission of ensuring efficiency,...Read More