Washington Post

Postal Service reports $5.2B loss in 3rd quarter

By Associated Press, Updated: Thursday, August 9, 4:50 PM
WASHINGTON — The nearly bankrupt U.S. Postal Service on Thursday reported losses of $57 million per day in the last quarter and warned it will miss another payment due to the U.S. Treasury, just one week after its first-ever default on a payment for future retiree health benefits.

Is that number hard to digest or even seem fathom?

From April to June, losses totaled $5.2 billion, up $2.1 billion from the same period last year.

What other organization but a federal entity can lose that amount of money and still have the doors open?

The best thing that can happen to the US Postal Service is for some company; if there is one out there; to buy the service and privatize it.  It may be hard to find anyone with any sense that would want to undertake that big of a burden.

I have to fault in part every administration in the recent past that has buried their heads in the sand and let this rolling snow ball get so huge and out of control. Where is it finally going to crash?

The inability for the US Government to operate any facet of its responsibilities seems endless. I would like to know if there is one organization that is under the auspices of the government that is running in the black.

These comedians that are at the helm have the solutions; one ignore the problem (that is what they do best); two print more currency to cover the damages (that is why the value of the US dollar is very low) or three try to blame the previous administration for their shortcomings. Guess what; none of those solutions work. Cold hard facts. The government is stone broke and going deeper into oblivion everyday.

I have a great solution. I think that the senate and congress should take a longer summer break to try and clear their heads. After all they are grossly over worked. If these guys were on piece work they all would be standing in the soup line on Hollywood and Vine in La La Land with a tin cup in their hands. You know what I would put in it.