Postmaster General Megan Brennan told reporters last Friday things are getting worse for the U.S. Postal Service and she sees no end in sight to the red ink.
When asked how long it would take for the Postal Service to return to profitability if Congress passed legislation that included her proposals for stabilizing its financing, Brennan responded, “Well, it’s a sizable gap – a $125 billion net loss over 10 years. We can aggressively manage it and try to control costs where we can, but we cannot return to financial stability absent regulatory reform.”
Brennan said the Postal Service is working to finalize by July a 10-year plan to “identify initiatives necessary to operate long-term financially sustainable models” for the Postal Service. So far, she is long on urgency but short on actionable ideas.