The government monopoly has lost $5.1 billion for 2015, despite hiking billions in extra charges to direct marketers.
$5 billion…. That’s huge.
But the management, unions, and politicians are all in denial that it needs major reform.
Worse, the USPS has now experienced 9 losing years in a row.
Oh… and in recent years, the monopoly did not make the legally required $5.7 billion payment to its Retiree Health and Benefits Fund.
The government agency is $15 billion in debt, plus an unfunded retiree obligation of $54 billion.
Real reform is to allow competition and implement greater efficiencies.
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