The United States Postal Service’s (USPS) deep financial problems are widely known and well documented. Despite maintaining a government-sponsored monopoly over the delivery of traditional mail, USPS is nearly bankrupt, having lost nearly $70 billion since 2000. With steep losses, as well as unfunded liabilities totaling $120 billion, it shouldn’t come as a surprise that this agency consistently receives a “high risk” label by the Government Accountability Office. But instead of implementing meaningful reforms to combat USPS’s long-term sustainability problem, we’ve only seen postage price increases - which have in the past failed to actually fix USPS’s fiscal outlook.
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