Every day, when I go out to our curbside mailbox, I leave wondering just how long the USPS has before it goes under for good. With virtually all our monthly bills being paid electronically and some of the underlying statements coming in on the internet, all that’s left is all the direct mail trash. The best day of the week is the one where the trash bins are out at the curb for pickup. I don’t have to carry the “mail” into the house to throw it away. Unfortunately, after it’s gone, the “pension benefits” will go on for years to come.
UPS and FedEx are still not losing money (the latter posted a 6½ percent profit increase for this quarter). It’s not lack of business that is hurting the USPS—it’s their pension liabilities.