Here at Via Meadia and TAI, we’ve been watching as the US postal system struggles to keep its head above water. After announcing last month that thousands of post offices would be closed in an effort to save money, the USPS will warn Congress today that things are even worse than expected. From the Washington Post:
The U.S. Postal Service could lose up to $10 billion and have little more than a week’s worth of money left in the bank when its fiscal year ends Sept. 30, the nation’s top postmaster will tell Congress Tuesday.
Postal officials are hoping the latest numbers will finally compel lawmakers to grant them new legal authority to alter delivery schedules, close post offices and lay off hundreds of thousands of workers.
Given its immense health care expenditures, the absurd amount of waste it generates, and the declining public interest in using the expensive snail mail system, the USPS’s fiscal problems come as no surprise.
Advice for postal system users: make sure your email account works. For postal workers: brush up on your skills. The financial crisis of the USPS isn’t going away anytime soon, and a lot of jobs are going to disappear.