Quote Of The Day

“This week, Bloomberg BusinessWeek put the financial woes of the U.S. Postal Service on its cover with a story titled “The End of Mail.” The dire plight of the USPS isn’t exactly news — it’s been losing money since 2006, including nearly $20 billion since 2007. But the cliff the agency has been driving toward is fast approaching. The agency is now almost $15 billion in debt. Unless the government steps in, it will default on $5.5 billion of retiree health-care costs in September. By October it will reach its legal debt limit, and by the end of the year, the USPS will be out of cash — insolvent and unable to operate.” — Freakonomics Blog

2 Responses to “Quote Of The Day”

  1. Crowhill says:

    I find it odd that it was just a few years ago that the postal service was talking about Sunday mail, and now they’re talking about restricting Saturday mail.

    Is this a change in strategy, or have the economics of mail changed that much in the last few years?

  2. I think the economic recession had a large part to play in all of this, more than any other variable.

Leave a Reply