10 Reasons to Abolish the US Postal Service

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USPS SUCKS

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3. USPS is a Money Losing Enterprise

The post office has lost money most years since becoming self-financing. Last year the Postal Service ran a $15.9 billion deficit and maxed out its borrowing authority. According to the Government Accountability Office, given its financial problems and outlook, USPS cannot support its current level of service and operations.

The USPS is made up of a semi-skilled bloated workforce. Like most government and unionized companies, the postal workers are overpaid and enjoy numerous benefits, not attainable by the people who don’t have access to the state’s cornucopia.

For five years, the agency has been on the brink of insolvency. It has $15 billion in debt, its statutory maximum. According to its most recent financial statement, the USPS: “Continues to suffer from a lack of liquidity. Cash balances remain insufficient to support an organization with approximately $73 billion in annual operating expenses. The Postal Service’s average daily cash and cash equivalents balances during the three months ended December 31, 2014 were $5.7 billion, which represents only 21 days of operating cash.”

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