Press Release
Postal Crisis: USPS Acknowledges that Defaulting on Obligations Will Not Close Deficit
WASHINGTON- Today the United States Postal Service released its quarterly loss numbers, showing that the distressed self-funding federal agency lost $3.3 billion last quarter. Total mail volume was down 6% from the same time period last year. Historically, the first quarter of the fiscal year, which includes the Christmas season, is the most profitable for the Postal Service.
Notably, USPS Chief Financial Officer Joe Corbett acknowledged that continued deferment of the agency's obligation to ...