Postal banking, an idea whose time should never come

The United States Postal Service has lost $69 billion over the past 11 years and has $143 billion in unfunded liabilities. Its financial performance has not exactly been inspirational.

Yet some members of Congress, including those senators also running for president, such as Kirsten Gillibrand of New York, Bernie Sanders of Vermont, and Elizabeth Warren of Massachusetts, are still talking about expanding the scope and mission of the USPS to include banking services. It makes no sense for an agency that is so deep in debt to be given the responsibility to handle anyone else’s money.