Back in 2009, then “Postmaster General” John E. Potter said:
“We are facing losses of historic proportion”
…the post office has seen revenue for first-class mail — the agency’s cash cow — decline by $2.4 billion. It has defaulted on three annual $5.5 billion payments into a health care fund for its future retirees. It has also exhausted its $15 billion borrowing limit from the Treasury Department.
Let’s look at how (even the severely hindered) U.S. marketplace takes care of these situations. Ten years ago, Blockbuster had 9,000 locations. It’s closing the last 300 in a couple of months.
Enough throwing more money down the USPS rathole.
Shut it down!
If mail delivery can be done profitably, private entrepreneurs will jump in (with their own money) and take care of business.
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