No one is very happy
about the impending postal service cuts, which include post office location closings and plans to kill next-day mail, because it's possible it will run out of cash in less than a year. Now, the U.S. Postal Service says, "In response to a request made by multiple U.S. Senators, [the USPS] has agreed to delay the closing or consolidation of any Post Office or mail processing facility until May 15, 2012. The Postal Service will continue all necessary steps required for the review of these facilities during the interim period, including public input meetings."
Further, the USPS says, "The Postal Service hopes this period will help facilitate the enactment of comprehensive postal legislation. Given the Postal Service’s financial situation and the loss of mail volume, the Postal Service must continue to take all steps necessary to reduce costs and increase revenue. The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations." Basically, the USPS hopes the government can come up with legislation to help it avoid bankruptcy: The Huffington Post reports, "The Postal Service, which is expected to default Friday on a $5.5 billion payment to the Treasury, is forecast to lose a record $14.1 billion next year."
At the bottom of the USPS statement, there's this note:
A self-supporting government enterprise, the U.S. Postal Service is the only delivery service that reaches every address in the nation, 150 million residences, businesses and Post Office Boxes. The Postal Service receives no tax dollars for operating expenses, and relies on the sale of postage, products and services to fund its operations. With 32,000 retail locations and the most frequently visited website in the federal government, usps.com, the Postal Service has annual revenue of more than $67 billion and delivers nearly 40 percent of the world’s mail. If it were a private sector company, the U.S. Postal Service would rank 29th in the 2010 Fortune 500. Black Enterprise and Hispanic Business magazines ranked the Postal Service as a leader in workforce diversity. The Postal Service has been named the Most Trusted Government Agency six consecutive years and the sixth Most Trusted Business in the nation by the Ponemon Institute.
In other words, it's doing a lot for the country without government support.