When Postmaster General David Steiner began his tenure at the U.S. Postal Service last July, there was hope that he would steer the beleaguered organization in the right direction after constant annual losses since 2007. As the former CEO of Waste Management and lead independent director of FedEx, it was believed that he could turn around what the Government Accountability Office has long called the service’s “unsustainable business model.”
Instead, after a reported $1.3 billion loss in the first quarter of fiscal 2026 and a net loss of $9 billion in fiscal 2025, Steiner is turning the Postal Service further down the road to perpetual losses and a taxpayer bailout. By his own admission, it could run out of money in 2027. Yet at the most recent U.S. Postal Service Board of Governors meeting, Steiner admitted he isn’t focused on cutting costs and instead is prioritizing only revenue and customer service.
Instead of releasing a plan to strengthen finances and raise performance standards while continuing to deliver mail and packages together, six days a week, to every address in America, Steiner quickly embraced the Delivering for America plan set in motion by his predecessor Louis DeJoy in 2021. The plan was supposed to lead to a break-even year in 2023, but instead it resulted in mounting losses and chronic service performance failures.
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