USPS Third Quarter: The Good, Bad, And The To-Be-Determined (From FEDweek)

On August 8, the U.S. Postal Service (USPS) announced another large, predictable financial loss of $1.7 billion for its third quarter ended June 30 and $5.2 billion for the year-to-date. This was supposed to be the year USPS broke even or was even modestly profitable after Congress provided $107 billion in assistance through the 2022 Postal Service Reform Act.

While there have been several positive developments at USPS recently, the organization is caught in a downward spiral, with volume plummeting, revenue down, and losses rising despite the economy growing.

Congress needs to get back at it re: Postal Reform and should do so before USPS runs out of cash, which could be in less than three years.

Lexington Institute’s Paul Steidler discusses this in an Op-Ed for FEDweek here.