A week ago, this writer told you how Lefties like Aaron Rupar and Kyle Kulinski were offended at the idea that government-run agencies should be run like businesses.
'They provide essential services,' argued those galaxy brains, 'so it doesn't matter if they spend too much money! We need them!'
Now it turns out the USPS has lost an eye-watering $9.5 billion in the last fiscal year:
The famously mismanaged U.S. Postal Service (USPS), also plagued by scandals for secretly spying on Americans, lost a staggering $9.5 billion in fiscal year 2024, which ended in September. The loss marks a substantial increase of $3 billion over the previous year when the agency reported an already hefty $6.5 billion deficit. In the meantime, taxpayers continue bailing it out despite a well-documented history of transgressions and exorbitant debt. Just two years ago Congress provided the long troubled USPS with a clean slate, relieving it of $107 billion in obligations. In its latest year-end financial statement the USPS blames 80% of the fiscal year’s net losses on the 'amortization of unfunded retiree pension liabilities and non-cash workers’ compensation adjustments' due to inflation.
Amazing.
Any other business that recorded that loss would be closed, and probably subject to federal investigations.
Wouldn't be the worst idea to end Saturday deliveries.
Most things, like bills, are now done entirely online and paperless.
UPS made $2.9 billion in profit last year, and Fed Ex $61.8 billion.
Why can't we privatize the USPS?
That, too.