DeJoy says USPS to run out of cash in late 2022 without 10-year reform plan

The 10-year reform plan unveiled March 23 would get USPS to balance out its finances by 2030, and would avoid a projected $160 billion in additional net losses over the next decade.

To pull this off, the Postal Service is asking its regulatory agency for more flexible delivery targets for 30% of first-class mail, and has already obtained approval to raise mail rates. The plan also looks to shrink the total number of USPS management positions.

The plan is a tough sell for some, but DeJoy said the cost of doing nothing is far greater. If USPS, Congress and the Postal Regulatory Commission don’t move ahead on this plan, the agency is set to run out of cash by the final quarter of 2022.

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How many times has the USPS faced running out of cash in the last ten years? Remember the story of the little boy that cried wolf?