Click For Photo: http://media.breitbart.com/media/2017/06/AP_773292690919.jpg
Following a tweet from President Trump today where he called out Amazon and the United States Postal Service, Breitbart News investigated Trump’s claims.
“Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer? Should be charging MUCH MORE!” Trump said in a tweet posted on Friday.
Trump - Claim - USPS - Billions - Dollars
Trump’s claim that the USPS is losing billions of dollars is entirely correct, in 2016 the USPS announced a $5.6 billion net loss and in 2017 stated a $2.7 billion net loss, making this the eleventh year that the Postal Service has announced a loss. The total from 2007-17 amounts to a staggering $65.1 billion in losses. Things do not seem to be looking up for the organization anytime soon, with the USPS predicting in their public 2018 Integrated Financial Plan that they would suffer a net loss of $5.2 billion in 2018. With mail volume at a 29 year low and amassing large amounts of debt, the Postal Service is facing a tough time ahead.
However, a bipartisan bill has been proposed that would help the Postal Service. The USPS operates under a law from 2006 that restricts how much they can charge for stamps, how much they must pay into retiree health funds, and other general restrictions on business operations. Some elements of that law expired in 2016, such as the one stating that USPS must pay $5.4 billion to $5.8 billion into retiree health funds, but this new bill would see the law revamped entirely to help the Postal Service compete in the modern age. “Once enacted, and together with aggressive management actions, the Postal Service can meet all of our obligations and continue to improve the...
0 other people are viewing this story
Wake Up To Breaking News!