Posted on 04/12/2020 6:21:20 PM PDT by Hojczyk
U.S. Postmaster General Megan Brennan told the House Committee on Oversight and Reform late last week in a video that unless the U.S. Postal Service gets a federal bailout it will run out of money by the end of September.
Mail volume has fallen steeply in the wake of the coronavirus pandemic, and the federal agency is expecting the same downward turn in revenues.
At a time when America needs the Postal Service more than ever, the reason we are so needed is having a devastating effect on our business,” Brennan said in the statement. “The Postal Service relies on the sale of postal products and services to fund our operations, and these sales are plummeting as a result of the pandemic. The sudden drop in mail volumes, our most profitable revenue stream, is steep and may never fully recover.”
“The USPS said the pandemic will increase its net operating loss by more than $22 billion over the next 18 months and by over $54 billion over the coming years,” Huffington Post reported.
(Excerpt) Read more at breitbart.com ...
I was afraid she’d say that for quite a while. I’m just surprised that it took as long as it did.
Ok.
Next.
Good - let it go. Now
I have been hearing that very same warning from the Post Office for more than the last 30 years. The Post Office and Amtrack always seem to be ‘dead broke’, yet still receiving billions in government aid. The Post Office should be privatized. Amtrack needs restructuring and probably some severe downsizing. The labor unions won’t like that part.
USPS survives on th delivery of ads and junk mail.
Collapse unless they get more money from Congress!
Hope congress doesn’t bail out the USPS. That money should go to Shithole countries and JFK center for performing arts.
And the tax payers must assume another load. The mule is damned near dead.
Most anything of importance I receive via regular mail could be sent electronically, one way or another. Payments, invoices, statements, miscellaneous documents, magazines, etc. The USPS could be pared down to 2 days per week (Monday and Thursday) and nobody would be worse for it. It’s a total dinosaur.
Total and absolute garbage.
Perhaps home delivery could be 3 or 4 days a week instead of 6.
Maybe USPS rates for shipping from China could lose their special status and pay the same as it costs to ship to the USA from any other country at the same distance.
which means they will bail it out.
Well if they go broke, that’ll fix Pelosi & the dems wet dream of a 2020 mail-in election. IMHO, THAT’S why the dems want the money for USPS.
Same story....different day...
Cut out Saturday mail. In fact.....Tues Wed Thurs Fri....would work just fine. 32 Hour workweek.
WHAT how could shipping have fallen off everybody in the country is ordering on line and having it shipped what the hell is this STUPID woman talking about???
Yep, my wife would agree. She delivers mail for a rural route. They deliver Amazon packages a lot up here too, and it’s been very busy for the last month or so!
I think Mon. Wed. Fri. Would be just fine most people are paying their bills on line now anyway!! My mom who is 90 is not great on the computer BUT she now pays all of her stuff on the computer she is so proud of herself!! It took a lot of patients to teach her but well worth it!!
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