Over the past 20 years, the Postal Service has recorded net losses in 18 of the past 20 years, however they have maintained sufficient cash to continue operations and perform their mandated service. This white paper will examine the historical events, legislative enactments and operational performance that have shaped the Postal Service’s financial outcomes over the last two decades. Through appropriations from Congress, issuing debt, raising prices, and leaving future retirement benefits unfunded, the Postal Service has remained solvent and mitigated the challenges associated with the Universal Service Obligation (USO) and the trend of customers shifting to digital communication.