Meeting in Philadelphia in May of 1775 – more than a year before we declared our independence from Great Britain – the Second Continental Congress created the position of Postmaster General and conferred the title on Ben Franklin – and effectively established the U.S. Postal Service. The rest, as they say, is history.
When it comes to postal products that don’t cover their costs, the U.S. Postal Service finds itself in a no-win situation. The law that governs the U.S. Postal Service, the Postal Accountability and Enhancement Act (PAEA), requires the Postal Service to make sure all products cover their direct costs. But it also caps the price increase on market-dominant mail classes at the increase in inflation.
Cheaters never prosper, the old saying goes, but the growth in counterfeit goods might suggest otherwise. Trade in counterfeit and pirated goods has grown from $250 billion annually in 2008 to $461 billion in 2013, according to a new report from the Organization for Economic Co-operation and Development (OECD), an international organization that promotes economic development. Fake goods make up more than 2.5 percent of all world trade.
Two times a year, we publish a report of our work and activities for a just-ended 6-month period. This Semiannual Report to Congress (SARC) is required by law, but it’s also a chance for us to share our record of work with our many stakeholders. The work reflects our mission to help maintain confidence in the postal system and improve the Postal Service’s bottom line through independent audits, investigations, and research.