[vbmoneyspender]

If the USPS didn't have a monopoly along with the implicit backing of the federal gov't, bankers would have real questions about whether the USPS can continue to operate. In fact, even with the monopoly, serious questions exist about the continued viability of the USPS - which is on the GAO's 'high risk' list of federal agencies.

The U.S. Postal Service urgently needs restructuring to meet rapidly declining mail volume and must immediately cut costs, according to a new report by the Government Accountability Office. The Congressional auditing agency today added the nation's mail delivery service to its list of "high risk" federal government agencies and programs that either need a massive overhaul or cost taxpayers billions of dollars in waste, fraud, abuse or mismanagement.

“There are serious and significant structural financial challenges currently facing the Postal Service," acting GAO director Gene L. Dodaro said in a statement.

The mail service has suffered as customers continue to choose e-mail and online bill payment programs over snail mail and as the recession has cut overall business spending. The Postal Service also faces significant infrastructural and personnel costs, including hefty payments to a retiree benefits program, Dodaro noted.

[muawiyah]

The current problem USPS faces is a substantial decline in advertising revenues. I think you'll find CBS and every major newspaper in the United States facing the same problem.

First end the Obama Depression. Then we'll talk.

And GAO talks a good game but over the years I've noticed they have far more than their fair share of economic idiots.