Her Twitter handle is @DJAliMeyer, and her email All it would take is another even modest downturn in the economy and the USPS would be right back in the red. The USPS loses money, but cash flow has been more stable. Postal Service but incompletely depicted its financial status. This extraordinary mandate created a financial “crisis” that has been used to justify harmful service cuts and even calls for postal privatization. The U.S. Without this unique and unfair burden, the narrative would be as follows: Here’s a government entity that, with no taxpayer money, and faced with a still soft economy plus the growing reach of the Internet, once again earned a billion dollar-plus operating profit. "The Postal Service will almost certainly register another multibillion dollar loss in 2015; for the first two quarters of 2015, it suffered a net loss of $2.8 billion.". They’ll do anything to cancel conservatives, “the construction, approximately 4.5 kms within Indian territory of the de facto border, will be of huge concern to India.”, “We are trying to separate the aspirational from the intentional.”. Total operating expenses came in at $19.3 billion. where her work appeared on outlets such as Drudge Report and Fox News. (Government Executive). They Help To Track Down Criminals; Working for the postal service means more than just delivering the mail and fighting crazed dogs every day. The U.S. WASHINGTON - The U.S. Postal Service turned a profit in a financial quarter for the first time in five years, though President Obama still proposed the agency slash 12,000 employees in his fiscal 2017 budget. The U.S. The agency has 300,000 fewer employees than it did a few decades ago. However, the last year the Postal Service recorded any profit was 2006, and its cumulative losses since then totaled $83.1 billion as of March 31. No other agency or company in the country has to pre-fund for even one year; the Postal Service must pre-fund 75 years’ worth of these benefits in advance. "Although the Postal Service has not yet received an explicit taxpayer bailout, it has failed to meet its legal obligations for several years in a row," the report states. The Tax Foundation says it is doubtful that the Postal Service will be able to meet its obligations. She also interned with the Heritage Foundation and Pacific However, living up to its government-sponsored reputation, the opposite desire is taking hold at the agency.". But packages can’t be sent in an email – yet – so that’s where the money is in this business. As noted, the increase is almost entirely due to package delivery. WASHINGTON - The U.S. Newsweek noted back in November that they were starting to get their head above water but more work remained. Postal Service announced Wednesday that it would end Saturday letter delivery beginning in August. Congress could probably step in and ease some of that burden but then they’d be taking on the unions along with a few other headwinds. The facts in this publication may be reproduced for the purpose of stating the fact itself, and in a business, informational, academic context and the like, and in the body of text discussing factual subject matter relevant to the fact being presented. That $5.6 billion annual charge is the “red ink.”. If the USPS found a way to legally keep its profits is that good or bad? The United States Postal Service first began moving the mail on July 26, 1775, when the Second Continental Congress named Benjamin Franklin as the nation's first Postmaster General. It’s our old friend, mandatory, baked in retirement plans and benefits which swamp any profits which the business might take in even if it were run in the most efficient manner possible. Ali Meyer is a staff writer with the Washington Free Beacon covering Postal Service reported operating revenue of $70.6 billion for fiscal year 2018 (October 1, 2017 - September 30, 2018), an increase of $1.0 billion compared to the prior year. to the Free Beacon, she was a multimedia reporter with CNSNews.com economic issues that expose government waste, fraud, and abuse. USPS posted a net income of $307 million in the first quarter of fiscal 2016, the first such gain since the fourth quarter of fiscal 2011. Copyright HotAir.com/Salem Media. Excessive Losses. Postal Service . From early in his term, Trump has complained that the Postal Service doesn’t charge Amazon enough money for shipping packages (in fact, package delivery is one area where the USPS makes a profit). For the sixth consecutive quarter, the U.S Postal Service turned an operational profit when accounting for its controllable costs. The U.S. Still, USPS has 500,000 employees and 600,000 retirees who receive health and pension benefits. The postal service is a not-for-profit, self-supporting agency that covers its expenses through postage (stamp use in the United States started in 1847) and related products. The pandemic offered the president his first opportunity to truly threaten the agency he calls Amazon’s “delivery boy.” address is meyer@freebeacon.com. Must See: Father Absolutely Nukes Loudon County School Board and Teachers in Viral Video, Ten Reasons a Post-Presidency Impeachment of Barack Obama Should Happen, Firearms Company Finds New Home After Passage Of Gun & Ammo Tax, Gun Control Group Has a Racist Take on Black and Brown Gun Owners, CCPA - Do Not Sell My Personal Information, Don’t look now, but the post office just turned a profit. In accepting the position, Franklin dedicated his efforts to fulfilling George Washington's vision. If the costs of this retiree health care mandate were removed from the USPS financial statements, the Post Office would have reported operating profits in each of the last six years. Post office workers have been useful to the police by helping to find criminals, investigating crimes, and gathering evidence. Bipartisan Senate pitch: Let’s censure Trump instead of an impeachment trial; Plus: A bill of attainder instead? The U.S. The United States Postal Service (USPS; also known as the Post Office, U.S. Mail, or Postal Service) is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the United States, including its insular areas and associated states.It is one of the few government agencies explicitly authorized by the United States Constitution. It’s also true that the Postal Service faces challenges; albeit not as often pictured. In 2006, a lame-duck Congress mandated that the Postal Service pre-fund retiree health benefits. In the topsy turvy world of Washington, however, it means the USPS is still "bleeding cash"- … In addition, the report finds that USPS has failed to make legally required payments to the U.S. Treasury and will default on its statutory obligations, which include the Postal Service Retiree Health Benefit Fund. Operating revenue ticked up 3.3 percent to $19.3 billion between Oct. 1 and Dec. 31, 2015, driven largely by a record volume of package delivery. Profits grew $1.1 billion over the same period last year, when the Postal Service lost $754 million. Bookmark the permalink. The days when the post was the primary conveyor of intellectual goods (i.e. "While the Service does have greater operational discretion than many federal agencies, it has much less than a typical private-sector business because Congress often micromanages its actions," the report says. 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