The Government Accountability Office issued a rather bleak report on the state of the U.S. Postal Service this week. The opening sentence states, “USPS’s business model is not viable,” and from there the picture only gets worse. The USPS, although no longer officially a government agency, is a case study of the biggest problems with government programs and government agencies.
The 80-page report makes mention of the Postal Service’s $12 billion in losses in the last three years, $3 billion in debt to the U.S. Treasury, and $55 billion in unfunded obligations for retiree pensions and health care.
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