Preventing USPS Insolvency
Government Accountability Office Analysis
The U.S. Postal Service (USPS) is in a serious financial crisis, and as mail volume continues to decline, it has not generated sufficient revenue to cover its expenses and financial obligations. In less than a month, USPS officials project that it will be insolvent and default on its statutorily mandated retiree health payment. USPS has concluded that extraordinary steps must now be taken to restore it to sound financial footing. Critical decisions by Congress and USPS are needed to both avoid this projected default of the largest Federal civilian employer and address USPS’s financial and operational challenges. USPS’s Financial Crisis…
