USPS Faces Cash Crunch: A One-Year Countdown Without Congressional Aid
TL;DR
USPS Chief David Steiner warned lawmakers that without Congress raising borrowing authority or allowing higher stamp prices, the agency could run out of cash within about a year amid a long-term decline in mail volume and a potential loss of Amazon shipping volume. The agency has not posted a profit since 2006, recorded a $9 billion loss last year, and carries a $15 billion debt limit while continuing six-day universal delivery.
- The USPS is nearing a financial breaking point, postmaster general warns: 'We were thrown an anchor' Business Insider
- U.S.P.S. Postmaster Says Service Will Be ‘Out of Cash’ in Under a Year The New York Times
- The US Postal Service’s fiscal crisis Brookings
- USPS cutting delivery days ‘on the table,’ as agency runs out of cash, postmaster general tells lawmakers Federal News Network
- USPS says it may not deliver mail in a year WSB-TV
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